LINK market overview

LINK market overview

1) The uptrend started (as in 95% cases) from big red downbar (trap).
2) No Supply + Entering of Genuine demand around 2.0 level. 2$ and 2.2$ become the price of support.

3) The volume increased up to abnormal numbers. Ultra-high volume on up-wave/bars = sign of Hidden weakness where professionals fix profits from longs using the buying rush from ordinary public who was impressed by advance. “Oh, $$$ LINK is going to breakout above 3.0 and go to the Moon!” – they suggested. But…

4) …As a result of #FOMO, LINKUSD started down-move, which culminated in minor Panic Selling Bar around old support level $2.2.

5) #NS + #DB at the level of Panic selling (4) – market resumed upward movement.

6) #SLKT and the manipulative move. 3.0 still contains a lot of supply.

7) another minor Panic Selling. The whole crypto market dumped, but LINK is feeling much better.

What is next?

While price is holding above the bottom trend line, this market has arguments for trading in the bullish team. IMO, professional buyers preparing a new attack on 3.0 level.

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