$LINK 4H

The range for gaining a position is the same, but in the other direction.

LINK has successfully broken the upper boundary of the bullish pennant, which implies continuation of the upward momentum. Bitcoin has grown quite rapidly, while LINK cannot boast of the same, but this is not an isolated case. It's all about Bitcoin's dominance - it is at its highest levels in the last 2.5 years.

The chart shows that the range from which we shorted and which acted as resistance now serves as support for the price and does not allow it to fall lower. Within this range, you can consider opening a long position. RSI is trying to maintain the 50 mark; EMA-50 4h and EMA-100 4h have historically served as good support levels. On the MACD indicator we see that although the bears are trying to take control of the situation, the price is not recording strong downward movements, which may indicate the strength of buyers.

Also, an additional incentive for growth will be the fall in Bitcoin’s dominance, then the first-tier altcoins may suddenly begin to “shoot” up by 5-10%. Historically, gold is a harbinger of growth in BTC (which we saw on Sunday), and Bitcoin is a harbinger of growth in alts.

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