Is LINKUSDT About to Trap Beginners Before a Big Move?
2024-10-05

Yello, Paradisers! Is LINKUSDT setting up a trap for beginner traders before making a strong reversal? Let's break down what we're seeing right now.

💎Currently, LINKUSDT is respecting the supportive trendline, but this setup might be a trap for those blindly buying in. There’s a high likelihood that the market will first liquidate traders placing orders along this trendline before making a more meaningful bounce from the actual support zone below.

💎For confirmation, we need to see a shift in market structure, specifically a bullish I-CHoCH (Internal Change of Character) from the support area. Other bullish reversal patterns, like a W pattern or an Inverse Head and Shoulders, would also validate a potential bounce from this zone.

💎If LINKUSDT falls further, we'll look to the strong demand zone below for a high-probability setup. This zone remains unmitigated, meaning it hasn’t been tested yet, increasing the chances of a bullish reaction. However, if the price breaks down and closes below this demand zone, our bullish idea will be invalidated.

💎But here's the twist: should LINKUSDT rise back above this zone after a breakdown and then show bullish signals, it would actually strengthen the bullish outlook even more.

Stay sharp, Paradisers, and remember—patience is key when waiting for the best setups. 🎖

MyCryptoParadise
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