Terry K

$LINK

already ran its liquidity above the previous highs near 12.10 and immediately pulled back. That tells you buy-side liquidity has been tapped and price is now deciding whether to accept higher or rotate. The current area around 11.80–11.90 is important it’s acting as the first support after expansion.

If this level holds and price continues to build higher lows, it signals acceptance above the old range and opens room for continuation after consolidation. If 11.80 fails, then the move above 12.00 was simply a liquidity grab, and price likely rotates back toward 11.60–11.40 where demand previously stepped in.

The cleanest long is never at the high — it’s after a pullback that proves support. Until that happens, this is a wait-and-watch zone.