LINKBTC Uptrend| Structural Support| 200 MA Pivot
Today’s Technical Analysis – LINKBTC - trading in a clear long term uptrend putting in consecutive higher lows.
Points to consider,
- 200 MA support confluence
- Double top resistance
- Structural support (trade location)
- Stochastics projected own
LINKBTC has been respecting the 200 MA where a retest usually ends with an impulse move up. Structural support is in confluence, solidifying a trade location, price is likely to pivot at this region.
The double top resistance is a visual target if support is respected, break above this will lead into a blue sky breakout.
Stochastics is currently projected down; the RSI is not officially oversold, indicating further downside momentum likely.
Overall, in my opinion, a valid long entry at structural support is a decent trade idea with clear risk mitigation.
Invalidation will be below the recent swing low under structural support
What are your thoughts?
Please leave a like and comment,
And remember,
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros
Points to consider,
- 200 MA support confluence
- Double top resistance
- Structural support (trade location)
- Stochastics projected own
LINKBTC has been respecting the 200 MA where a retest usually ends with an impulse move up. Structural support is in confluence, solidifying a trade location, price is likely to pivot at this region.
The double top resistance is a visual target if support is respected, break above this will lead into a blue sky breakout.
Stochastics is currently projected down; the RSI is not officially oversold, indicating further downside momentum likely.
Overall, in my opinion, a valid long entry at structural support is a decent trade idea with clear risk mitigation.
Invalidation will be below the recent swing low under structural support
What are your thoughts?
Please leave a like and comment,
And remember,
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you‘re wrong.” -George Soros
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