LINKBTC Elliot Wave Analysis

Here's what I think might happen next with Chainlink.

We have the 12345 followed by ABC very frequently here. So after this clear 12345 EW structure that makes up the 5th wave in the grander (maroon coloured) line, I believe we will have a bigger ABC now.A
Previous resistance should act as support until EMAs cross over again.

Hope this helps!

Please don't forget to leave a like if this is useful.

Prev. Analysis: www.tradingview...scending-Wedge/?utm_source...

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Starting to look like a triangle in the 1 hour. So show caution as these can break both ways. If it breaks up, it would be very bullish as it would form a nice double bottom. Needs to keep this high volume though.

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Couple of things to say today. Firstly is that my count for the first wave 12345 structure and ABC retracement was not valid. Sorry, I made a mistake and I admit it. I drew it in a rush, and the end of C didn't go below A so it wasn't really a retracement. This change should make the count valid, but I am not sure if it has been invalidated already. Honestly I'm not sure on the technicalities of whether an ABC correction can be valid, but it doesn't change that much for the bigger count.

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Secondly, this candle is looking extremely bullish on the 4 hour. I will wait for a close before I decide to sell more in a swing trade.
It seems that this pump was caused by insider info of LINK/USDT, LINK/TUSD, LINK/PAX, and LINK/USDC on Binance, which accounts for 64% of LINK/BTC volume, as of today. If someone can advise how to show historical data for market share per exchange on CMC, it would be MUCH appreciated :)
This is a pretty big deal for link, and I'll wait for this candle to close before deciding on opening another swing trade or not
twitter.com/binance/.../1085024423378247680

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Oh, and forgot to mention, we have technically already surpassed our first sell zone on the trend-based Fibonacci extension of 0.00013537. So it may be a good idea to take profits from the long we entered last time at this point. This wave 5 could however extend as far as the 1.618 region of 0.00018310 before making a corrective move.

I think this count is pretty valid after all looking on the 4 hour chart especially. You can see how often these fib levels have acted as resistance and support, so I can easily see it dropping from here too, as in the original chart. Either way, it is not necessarily bearish in the long term, despite LINK really countering the overall bearish market sentiment.

Please don't forget to leave a like if this helps you guys :)

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Maybe a better visualisation of the bigger picture I have in mind here.

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Update for the 1 minute chart:

Another fast impulse move is being made which could bring LINK to yet another ATH today at possibly 14139 sats, 14296 sats or even 14748

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considering rebuying at 0.000139xx area now.

This whole trade relies on selling high and buying the dip as, from my previous trade ideas on LINK, you will know, I am still bullish in the long term. Check this idea for long term targets.

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