"There appears to be a need of some bold man who will say outright what is best... opposing the mightiest lusts and following reason only."-Plato - Laws, VIII, 835-
LINK/USD
- As stated previously, patience is key when trading these extremely volatile markets, these past few days we just saw how LINK has been tapping Daily Resistance at 21.4$ for at least 3 attempts and failed as of this post. Every time a Resistance/Support level is hit multiple times it gets weaker and weaker, so I am not expecting bulls to give up so easily.
- If price cannot break 21.4$ Resistance we can expect a longer drop towards 20$ Daily Resistance area before any other bullish momentum starts building.
- Last day I mentioned having a counterplant as an important part of trading to always keep in check your biases and to expect the worst possible outcome just in case. This has proven to be useful for we took into account a possible break of Support and we made plans accordingly.
- Key levels I'm patiently waiting are 19$, 17$ Daily Support and even 16$ or 12$ as a potential bottom.
Remember, nobody can predict the price of cryptocurrencies accurately and anybody claiming the opposite is probably trying to claim your attention and your money. Predicting the price of cryptocurrencies is akin to predicting the weather; the further into the future you try to predict, the bigger the deviation and error rate will be. This is due to the fact that in a complex system involving thousands of variables, some which are know and others which remain unknown, an accurate prediction can only happen if every single variable is correctly accounted for.
Chad trader from ClearThoughtCrypto