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.
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.