Cryptocurrencies

LINK – Taking a Shot on a Long Trade

Yesterday I discussed Chainlink (LINK) and how $2.50 could potentially act as a support given prior price action.

Just a little trade…

Now that price touched the 10 day moving average after digesting the prior up move I have decided to take a shot and bought 300 coins at 2.56

If you look at the chart you can see we may have a little double bottom intraday as 2.45 was the low of yesterday’s candle and today so far.

I may be jumping the gun as this candle had not closed and anything can happen in the remaining hours, but with a clear exist of 2.45 it was worth risking 10 cents to make 30 or so as the high of 2.98 is my profit target.

It certainly doesn’t scream get long, but it’s a decent enough risk-reward and setup to speculate and try and pickup an easy $100.

This is just my opinion, make your own trades 😉

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