LINK at Resistance | Breakout or Fakeout?

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LINK at Resistance | Breakout or Fakeout? CHAINLINK / TETHERCOINEX:LINKUSDTtrade-pro-mind๐Ÿšจ LINK at Resistance | Breakout or Fakeout? ๐Ÿ“‰ Watch BTC Dominance โ€“ It Might Decide Everything! ๐Ÿ” Technical Analysis: Chainlink (LINK/USDT) โ€“ 4H Timeframe ๐Ÿ“Š Current Setup: LINK broke through the key $18 resistance and is now pulling back near the $19.15 level. โœ… Price remains above all key moving averages (EMA & SMA) โ€” a sign of strength in the current uptrend. โš ๏ธ However, oscillators show neutral to slightly overbought signals, increasing the need for caution. ๐Ÿ”ธ Market Context (Macro View): โ€ข BTC is consolidating in a tight range. โ€ข BTC Dominance (4H) has broken a key support zone ๐Ÿ“‰. If the current bullish candle in btc.d fails, it could confirm a continued drop in dominance โ†’ bullish for altcoins. ๐Ÿ“Œ These conditions are crucial for LINK: If BTC stays sideways and dominance keeps falling, LINK could see another leg up. ๐Ÿงฎ Technical Signals: ๐Ÿ“Œ Moving Averages (MAs): โœ… 13 Buy vs. 1 Sell โ†’ Strong bullish momentum โœ… Price is above all key MAs, including EMA-200 & HMA ๐Ÿ“Œ Oscillators: ๐Ÿ”ธ Mostly Neutral ๐Ÿ”ธ RSI at 69.8 โ†’ Near overbought zone ๐Ÿ”ธ CCI and Momentum โ†’ Showing Sell signals, suggesting possible short-term pullback โœ… Conclusion & Scenarios: ๐Ÿ“ˆ Bullish Scenario: If LINK breaks $19.15 with a strong candle and volume, the next targets are $20.4 to $21.0. ๐ŸŸข This move is more likely if BTC.D drops further and BTC remains flat. ๐Ÿ“‰ Bearish Scenario: Failure to break $19.15 or BTC breaking down from its range could trigger a correction back to the $18 or $17.64 support zones (aligned with EMA 20-30). This area could offer a good long entry with a wider stop. โš ๏ธ Risk Management Notes: โ€ข Market is showing early overbought signs โ€ข ๐Ÿ“‰ Volume is declining โ€ข ๐Ÿšช Enter with reduced position size and wider stop-loss to avoid volatility traps ๐Ÿš€ If you found this helpful, smash that rocket icon and follow me to catch the next trade setup!