LINKUSD Support Broken. Further Correction/Consolidation likely.

I was stopped out when the trend broke. Waiting and watching for future long entry.
Full reversal puts it back in the high 4 range, which wouldn't be unusual for a relatively young asset, there's also support in the 8 range.
Time will tell and much depends on BTCUSD.

Kommentera:

The big wick on 2020-12-23 hit my first potential downside target before retracing in a strong move upwards. Now that the retrace has broken down it looks like downside targets are back in play.

7-8's look extremely likely given the overall weakness and the length of that 12-23 wick. If BTCUSD has a significant retrace then lookout below!