Bearish Outlook on LINK/USDT with Defined Targets

The main idea is to initiate a short position on LINK/USDT with an entry point around $13.415 and a stop loss at $13.823. The price is nearing a critical supply zone near the upper boundary of a descending wedge, which previously triggered active selling reactions. The formation of Break of Structure (BOS) and Change of Character (CHoCH) at lower levels indicates seller dominance, confirming market strength downwards. A weak high has formed, accompanied by liquidity accumulation, increasing the risk of a false breakout and a downward retest. Beneath the current price, there are Fair Value Gaps (FVG) that could absorb liquidity and potentially lead to continued bearish movement. Target levels are set at TP1: $13.080, serving as a local order block and demand zone; TP2: $12.631, a broken BOS level and FVG retest; and TP3: $11.485, a key order block and the completion point of the move. Overall, the technical signals suggest a bearish outlook for LINK/USDT in this scenario.