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$LINK The recent trend can be described as a textbook-level market game—big funds quietly withdrawing, leaving many retail investors stubbornly holding on at high levels. Data shows that currently, long positions account for as much as 74.6%, and liquidation data has already become quite severe.
From the market performance, LINK's price has fallen significantly, but technical indicators show signs of a rebound. However, there is a warning to be cautious: rebounds are often not a salvation and may instead signal the prelude to the next wave of decline.
From a trading perspective, key levels deserve attention. If the price rebounds to the 13.4 to 13.6 range, a short-term high may form. Meanwhile, around 13.15 could serve as a potential support. Given the current crowded long positions, rebound highs often carry risks.
Specifically, there are two trading strategies. One is to look for opportunities in the 13.41 to 13.58 zone, targeting 12.75, with a stop-loss set at 13.65. The second is if the price directly breaks below 13.27, which is also a short-sell signal, with the same target of 12.75.
The crypto market is a probability game; the key is to find the higher-probability opportunities. Given the current market structure—crowded longs and large fund withdrawals—rebounds often indicate deeper adjustments. Trade cautiously and manage risks.