Scalping is a high-frequency trading tactic in which investors profit from little price swings over a short period. CryptoWzrd thinks that such strategies find an entrance in the present bearish trend in LINK. Before suggesting a scalp, the analyst underlined, nevertheless, the need of a significant trade indication.
Said the analyst in his prognosis, the next major movement up from this level will be a major indication for the market as a whole and LINK especially. The crypto community has been rocked by this cryptic message; traders are keen to know what CryptoWzrd will do next.
LINK Daily Technical Outlook: closed bearish today and the next move from the current location will lead the way. I will be looking to get a quick scalp once there is a quality trade setup 🧙♂️ — CRYPTOWZRD (@cryptoWZRD_)
Analyst Evaluates Market Trends And Trajectories
His analysis has garnered significant attention, especially from aggressive traders seeking a competitive advantage in the infamously unpredictable bitcoin market. His focus on short-term trends and scalping opportunities will appeal to those who prefer a hands-on approach over buy-and-hold strategies.
The analyst’s focus on rapid scalps underlines the erratic character of the bitcoin market. Unlike conventional investments, cryptocurrencies can show notable price swings in minutes, which makes them perfect targets for scalpers with sharp reflexes and strong knowledge of technical indicators.
Chainlink 200-Day SMA Projected For Growth
Technical analysis indicates that while the short-term 50-Day SMA will close at $18.14 on the same day, Chainlink’s 200-day Simple Moving Average (SMA) will rise in the next 30 days and close at $17.05 on July 9, 2024.
LINK Price Forecast
‘s current projection shows a possible 32% price rise that would get the price to $21.53 on July 9, 2024. This positive view stands in spite of the present negative attitude shown by the technical view.
Featured image from Pexels, chart from TradingView