The descending triangle has been broken with a very positive outcome. Traders had a shorting opportunity with his ending 5th wave diagonal. Our target is a strong support and 0.618 fib level. We have a pretty ideal setup here.
When to buy LINK? You can do it right now, because it’s not likely to fall dramatically in the nearest time. Link has just hit a long term trend line: zoom out and judge for yourself . The currency is set for a nice profit in the mid-term.
But what if LINK drops again? It’s unlikely that we will break below the 15500 region, but if we do, then it is possible to see some sort of further consolidation within a triangle pattern made up of those two blue trend lines.
Here’s one great recommendation from trader Etch1234: “Always put your stop a little further than you think, and your target a little closer than you said.”