🌞 Update market [08/12] [LINK]. 💵
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📊 Technical view (15m frame - Scalping):
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According to the analysis of the Sell (Short) direction, the LINK chart is sending warning signals about the breakdown of the bullish structure and the Bears are gradually regaining control.
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⚠️ Arguments supporting the Short side:
Death Cross: The most important signal is that the Tenkan line (Green) has crossed below the Kijun line (Red) at the level of 14.10. This is a sign confirming that the short-term trend has reversed from Bullish to Bearish.
Loss of psychological support: The price has broken through the round number 14.00 and is currently trading weakly inside the cloud. The two Tenkan/Kijun lines above are currently acting as resistance "caps," pushing the price down.
Weak buying pressure: Although the Stoch RSI is in the oversold region, the price has not bounced strongly but is only moving sideways weakly. This indicates that the Buyers are not keen on bottom fishing, and just a light selling force is enough to break through the bottom of the cloud (13.88).
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💡 Trading mindset:
Due to the low momentum indicator, chasing the Short (Sell market) right at the bottom of the cloud 13.94 is risky. A sharp mindset is to wait for a "Dead Cat Bounce" to test the resistance area 14.0x before entering a Short position, which will be safer and more optimal for profit.
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RECOMMENDED POSITION
🔴 SHORT (SELLING SHORT)
⭐ Entry (Entry area): 14.02 - 14.08 (Convergence area of Tenkan and Kijun).
🎯 TP (Take profit): 13.85 - 13.60 (Breaking the bottom of the cloud Span B).
🛑 SL (Stop loss): 14.22 (When the price exceeds the nearest peak and goes back above the cloud).
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This article only suggests market information, not an investment call! #DYOR #NFA $LINK
