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LINK 8.09 false breakout—did you get lured into going long?
$LINK /USDT - SHORT sell
Trading plan:
Entry: 8.08 – 8.10
SL: 8.23
TP1: 7.99
TP2: 7.92
TP3: 7.81
Why focus on this structure?
- The 1D trend is clearly bearish; the current 4H bearish signal has an 80% confidence level.
- RSI on 15M is 63.74, not oversold, and the bears still have room.
- Why now? 8.09 is a key 1H resistance; if it can’t hold above it, it will most likely retest TP1 at 7.99.
Discussion:
Will this move reach TP2 at 7.92 first, or will it bounce and stop dropping?