LINKUSDT: Bullish Setup or Breakdown Ahead?
2024-12-30
Category: None

Yello, Paradisers! Could this head & shoulders structure spell trouble for LINKUSDT? Or is the market setting up for a bullish reversal?

💎LINKUSDT appears to be showing signs of a retracement due to its head and shoulders pattern. If the price retraces to the identified support zone and presents a bullish I-CHoCH, W-pattern, or inverse head and shoulders on lower timeframes, the probability of a significant bullish move increases.

💎However, if the price drops further to sweep below the current zone (inducement), it’s prudent to wait for confirmation at the strong support zone. Although reaching this level might seem unlikely, if the price does drop, it would strengthen the likelihood of a bullish rebound. In this case, watch for bullish patterns such as I-CHoCH, W-patterns, or inverse head and shoulders to form before taking any action.

💎On the flip side, if a breakdown occurs and the candle closes below the strong support zone, this would invalidate our bullish outlook. In such a scenario, patience will be key—waiting for better price action and clearer market structure before considering the next move.

🎖 As always, the disciplined and patient approach wins in this market. Stick to the plan, follow the confirmations, and trade smart, Paradisers!

MyCryptoParadise
iFeel the success🌴