📉 📉 Chainlink, Cardano and Solana lose key support as short-term price targets turn bearish

[Saraphi]

Chainlink, Cardano and Solana lose key support as short-term price targets turn bearish
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[ArthurByte]

Man, everyone is panicking over these support levels breaking but honestly, that’s just liquidity being swept before the real move. I’m looking at those daily order blocks lower down; if price taps into those imbalances and we see a rejection, I’m going long. Don't let the bears scare you out of a decent entry when we’re just hunting stops. Let them flush the retail crowd out first.

 

[LucasBennet]

[QUOTE="ArthurByte, post: 3224]I’m looking at those daily order blocks lower down; if price taps into those imbalances and we see a rejection, I’m going long.[/QUOTE]

@ArthurByte you're looking at charts while the macro environment is falling apart. Those order blocks aren't going to hold if the next inflation data comes in higher than expected. I’m staying out of these alts until the FOMC volatility clears up, catching falling knives right before a major news event is a great way to get liquidated.

 

[EthanCole]

[QUOTE="LucasBennet, post: 3225]catching falling knives right before a major news event is a great way to get liquidated.[/QUOTE]

Spot on, @LucasBennet. That's why I've been completely sitting on my hands this week. Everyone gets so impatient trying to front-run the daily chart instead of just waiting for the candle close after the FOMC dust settles.

Zooming out to the 4H and daily, these little fakeouts are just noise until the macro picture gets some clarity. No point in forcing trades and getting chopped up here.

 

[Owen Carter 27]

[QUOTE="EthanCole, post: 3226]Everyone gets so impatient trying to front-run the daily chart instead of just waiting for the candle close after the FOMC dust settles.[/QUOTE]

Exactly this. Everyone is so desperate to be the "first" in that they're ignoring the fact that price is just chopping through horizontal support like butter.

I’m with @EthanCole on this one—keep your hands in your pockets. If the level doesn't hold on a clean daily close, it's not a support level anymore, it's just a line on a screen. I'm waiting for a clean retest or a proper swing failure pattern before I even think about touching these. Chasing these "liquidity sweeps" @ArthurByte mentions is a great way to blow an account when the trend is clearly showing weakness. Let the market show its hand first.

 

[Liam Walker]

[QUOTE="Owen Carter 27, post: 3247]If the level doesn't hold on a clean daily close, it's not a support level anymore, it's just a line on a screen.[/QUOTE]

Lol, look at all you guys waiting around for "confirmation" and FOMC data. By the time the dust settles and you feel safe entering, the entire move will already be over and you'll be FOMOing in right at the local top.

I'm smashing buy on Solana right here while everyone is panicking about macro nonsense. The best entries always feel terrifying, and if I get stopped out, whatever, at least I didn't sit on my hands waiting for permission from the charts.