🔥 LINK Dead Cat Bounce: More Temporary Upside Likely

9 Jun 2022

LINK is one of the few larger cap tokens who's seeing decent inflows from investors, it already gained over 70% since bottoming out a couple of weeks ago.

However, I'm betting that this is just a dead cat bounce. LINK has been trading in a relatively stable ascending channel. If I were a bear, I'd be shorting (and/or taking profits) at the top of the channel, causing relative weakness with a potential trend reversal as an outcome.

For now, I think there's more juice in this move. Be aware that once BTC starts dropping, LINK will follow.

10 Jun 2022

Catatan

Acending channel = Descending channel. Typo!