Potential bearish idea to monitor for LINK in the coming week(s). Link has been consolidating in a well defined range for a while, and recently had a deviation of the range low. When breaking back into the range, LINK moved completely to the top of the range. I am now watching for this to play out in the opposite direction.
So what needs to happen to confirm this idea, is LINK needs to print a couple candles outside of this range, and then fall back into the range. There is a lot of patience and monitoring in this setup, however, if the deviation plays out again this could be a great short to hold all the way back down to the bottom of the range.
Potential bearish idea to monitor for LINK in the coming week(s). Link has been consolidating in a well defined range for a while, and recently had a deviation of the range low. When breaking back into the range, LINK moved completely to the top of the range. I am now watching for this to play out in the opposite direction.
So what needs to happen to confirm this idea, is LINK needs to print a couple candles outside of this range, and then fall back into the range. There is a lot of patience and monitoring in this setup, however, if the deviation plays out again this could be a great short to hold all the way back down to the bottom of the range.