Elite

Chainlink

<p>Chainlink (LINK) surged more than 30% in September and is now looking to continue the momentum in October, making it an attractive option for day traders looking to capitalize on short-term price moves. According to crypto trading expert Kara Szabo, day trading LINK can be extremely profitable if done correctly.</p>
<p>In a recent Twitter thread, Szabo <a href="https://twitter.com/kararesurrect/status/1709559734485848404?t=A073KxNWMbPRQUOzBgYAew&amp;s=19" target="_blank" rel="noopener noreferrer nofollow">laid out</a> her strategy for effectively day trading LINK while minimizing risk:</p>
<p>Szabo recommends buying LINK when the price dips below $7.50, which has proven to be a solid support level for the cryptocurrency. She advises traders to set a profit target, such as 5-10%, and sell when that target is hit. This allows traders to lock in quick gains as LINK’s price bounces back up.</p>
<p>The key is to take profits quickly, Szabo emphasizes, rather than holding out for larger gains that may not materialize. She notes that LINK tends to see upward momentum after dropping below $7.50, so traders can expect to see profits if they buy the dips.</p>
<h2 class="wp-block-heading" id="minimizing-risk-is-key">Minimizing Risk is Key</h2>
<p>Crucially, Szabo states that traders should never sell LINK for a loss. If the price drops after buying, traders should simply hold onto the position. Szabo points out that LINK has always eventually recovered to prices above key support levels. So while losing trades may require some patience, LINK will eventually rebound for a profit.</p>
<p>By following these guidelines, Szabo asserts that LINK offers a high probability of being a winning trade, making it attractive for short-term day trading. Of course, as with any trading strategy, risk management and setting stop losses are still important. But Szabo’s approach takes much of the guesswork out of effectively profiting from LINK’s volatility.</p>
<p>For active crypto traders interested in capitalizing on LINK’s price swings, Szabo’s strategy presents an insightful method. Buy on significant dips below $7.50, take quick profits when momentum shifts upward, and never sell for a loss. While not foolproof, traders who master this approach can consistently prosper from LINK’s short-term fluctuations.</p>
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style="">
 <div class="col_wrap_two mb0">
  <div class="offerbox_big_wrap flowhidden">
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a>
   </div>
   <div class="product-summary col_item mobileblockdisplay">
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-noopener-noreferrer-nofollow-span-we-recommend-etoro-span-a"><a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> <span>We recommend eToro</span> </a></h3>
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20"><strong>74% of retail CFD accounts lose money.</strong>
    </div>
    <div class="buttons_col mb25 rh_big_btn_inline">
     <div class="priced_block clearfix">
      <div><a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="noopener noreferrer nofollow"> Visit eToro Now </a>
      </div>
     </div>
    </div>
    <div class="bigofferdesc"><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy the trades of leading traders, for free. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate. <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div>
   </div>
  </div>
 </div>
</div>
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/elite-crypto-analyst-reveals-never-a-losing-trade-strategy-for-chainlink-link-unveils-key-price-level-to-watch-closely/">Elite Crypto Analyst Reveals ‘Never a Losing Trade’ Strategy for Chainlink (LINK): Unveils Key Price Level to Watch Closely</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Elite Crypto Analyst Reveals ‘Never a Losing Trade’ Strategy for Chainlink (LINK): Unveils Key Price Level to Watch Closely

Table of Contents

CaptainAltcoin

Other articles published on Oct 5, 2023

Crypto Market Outlook: Here’s What Next For BTC, AVAX, INJ and LINK Price

The age of virtual cards

One Fraudster Robs 4 Friendtech Users in SIM-Swap Attack, Moving $385k

South Australian Police Seizes $1.5M in Crypto From Man Charged With Drug Trafficking

Former BlackRock Director Reveals Expected SEC Bitcoin (BTC) ETF Approval Date

How Are Chinese AI Firms Surpassing Regulatory Hurdles for Innovation?

Join our free newsletter for daily crypto updates!