Chainlink from $14.2 till now ($20) and next? multi timeframe analysissteemCreated with Sketch.

in #crypto5 months ago

I have posted about #LINK since it was $14, bought at $14.242 (spot, swap on my wallet, not with leverage and not in any broker account and I recommend only this way!)

here is why I bought (which paid me off nicely), and what would I do from now:

the weekly timeframe:

LINKUSDT_2024-02-18_10-59-51.png
a sharp rise (OCT 2023 til NOV '23) after a long downtrend correction (May '22 till OCT '23) ended in another correction. on the candle starting 15th Jan 2024, there was a bullish divergence with 9 Oct 2023 dip.

to get confirmation on this divergence, let's check daily chart. next candle was ranged between $13.5 and $15.9 which I bought @14.242

LINKUSDT_2024-02-18_11-05-38.png

on daily chart, there is a hidden bullish divergence with 25th Jan's dip. I entered next day.

what now?
so far this position is almost 40% in profit. I believe a correction is on the way. $21-$22 can be a pick before the correction starts. the correction can be price wise (touching below demand levels like $17 or time-wise.

I will sell half my position on the first bearish divergence in 1 or 4 hour chart and will buy again if I see a confirmed daily bullish div.

why I don't sell all my position? because on the weekly basis, I still believe the bullrun continues :)

important:
this is not financial advise.
I don't use leveraged positions, leveraged tokens, future, CFD etc on crypto.
I do not use brokers and centralized exchanges like binance kraken etc. I only swap on my wallet.

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