LINK Bearish Bounce off Trend Line
In my last post I predicted that Link would follow the upward channel. It seems that Link will follow this channel at least one more time: the upper resistance held strong and major selling pressure emerged. Also, the RSI on the 4H chart shows that Link is massively overbought at the moment, signalling a short-term correction.
The green area would be a great spot to close your short position and consider going long again. In the long-term I'm still very bullish on Link, so going long (or staying it) would still be adviced.
If Link were to break through the dotted blue line, the channel is broken and could signal a big bullish move.
The green area would be a great spot to close your short position and consider going long again. In the long-term I'm still very bullish on Link, so going long (or staying it) would still be adviced.
If Link were to break through the dotted blue line, the channel is broken and could signal a big bullish move.
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