Chainlink Awaits Break-out Towards 161.80% Fib Extension

I like the LINKUSD's 4-hour price structure right now!

It seems bullish pressures keep building up.

I think it's better for me to wait and buy the break-out on $8.55 mark while putting a long cover at $8.31 to be safe.

Once $8.55 hits it will trigger a market reaction and squeezing shorts down low with strong bids alignment.

Exiting my long position at the 161.80% fib extension level ($9.10) will be a good try!

This will be a risky yet ambitious trade plan with a risk:reward score of 2.292.

Original article written by me:

https://www.finlogix.com/analysis/20220917/chainlink-awaits-break-out-towards-16180-fib-extension