🔥 LINK Channel Break Out

23 באוק׳ 2021

Two days ago I made an analysis on LINK. In this analysis I argued that LINK was trading inside a bullish channel and that we're going to see either more consolidation or a break out.

Earlier today, LINK saw a nice move up and broke out of the channel. With the market trading down currently, I'm still not confident we're going to reach the first target at $32 soon. It appears that the first support is going to be the top trend line of the channel, a re-test might launch the price up.

However, there might be more downside in the current market. In that case, look for a reversal from the bottom trend line of the channel.

On the other hand, the overall market is still bullish. Therefore I've added a second target to the break out pattern at $35. Might take a week or two to get there.

Happy trading!