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Is LINK’s rebound a trap or a reversal?
$LINK /USDT - go short SHORT
Trade plan:
Entry: 8.361 – 8.385
SL: 8.485
TP1: 8.289
TP2: 8.233
TP3: 8.149
Why focus on this structure?
Current price is 8.373. The 15-minute RSI is only 57.76 and not overbought. The 4-hour EMA shows a bearish bias, and the 1D trend is a range-bound consolidation. Why now? Because price is being rejected around 8.373; the SHORT signal triggers. TP1 is 8.289, TP2 is 8.233, and the stop loss is 8.485. If it breaks below 8.361, bearish momentum accelerates.
Discussion:
Will this move reach TP2 first, or will it fake a breakout and lure it back?