LinkBTC has gone against the lower limit of the weekly bollinger band twice before. Technically speaking those would be the best time to go into link versus all other major coins considering how important btc pairs are. BTCUSD has been on an absolute tear and that is why linkbtc has been brought to the base of the bollinger band.
The wicking and now green candle about to complete in some 22 hours suggest the bottom on the pair is roughly in. The massive amount of bullish divergence on the MACD and the RSI also back this up. This is now the third best entry into Link of all time on the weekly timeframe.
Link.d is also at a relative low. I made the green boxes first based on visual recognition then threw the MTF BB on and I see that link.d is against both the weekly BB lower limit and the monthly baseline. Given how well linked is poised to set ATH and how it is set to rally against BTC there is a lot of confluence saying link is going gangbusters to the upside.
Likewise link is poised bullishly against eth. It seems that for a long time there will be endless gains for chainlink. This is the second best entry against Ethereum.
I cannot, for legal reasons, guarantee anything. But when link is going to 40-50k a few years from now and you own and held the link you bought after reading this you will be glad you bought however many link you buy. This is like buying btc or link at $15-20$
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Here is linketh after a banger of a day, with link up over 25 percent against eth.
Here is the same against BTC. Obviously some wicking is to be expected but Link is showing strength from this oversold position that should last for years to come.
We will have to struggle our way through the long term EMAs and ultimately the weekly and monthly Bollinger bands but I am not going to think of leaving link till we are at least above the weekly Bollinger band on eth or btc. Hopefully both.
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I suspect we will be breaking the weekly midline here shortly and leverage traders could consider closing some of their margin longs at or above the weekly BB upper limit.
seeing a lot of similar things as you, i think link looks best against btc and eth right now. was pleasantly surprised to see how well it hung in with btc yesterday and today. i am expecting a big move
financial advice ;)
This_Guhy
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@harambepay, best of luck I hope to hold these bags for a couple of years. The only think I don't like is I don't see a defi option for chainlink to get some interest that is accessible to me.
harambepay
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@This_Guhy, we did it mate, unreal trade. and we have so far to go. congrats :)
This_Guhy
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@harambepay, I have a x3 trade on over at kraken for linkusd that I entered a while ago and I added to it my position when link was retesting the triangle resistance as support. I went in on LinkEur so if I need to take profits or stop loss out it don't run afowl of their FIFO rules. I have some trades that are deep in the money and I want to hold them until they bascially time out in three more weeks.
It is going to take a lot for me to switch link for almost anything else. BTC or ETH would have to show massive bullishness for me to consider that and as I said in my update, I won't be thinking of that will we are above the weekly BB.
@This_Guhy, amazing how long you've been in it :) so happy for you! i found out about chainlink towards the end of defi summer... this has been a long wait for me, staying patient and waiting for proper signals wasnt easy... but i think it will be life changing now. lets check in from time to time and see how its going, i think it will be a fun ride !
This_Guhy
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@harambepay, Just be careful. When things get really good it can get pretty heady and that is when you can make mistakes. You start making some exceptions to your program/system/rules or plan and then you learn why you made those. I have gone x10 and then lost it all like 3 times on my margin account and my regular just buy and hodl account does better.
FerroIgnique
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You really need a disclaimer that no one should buy or sell based on anything you write
This_Guhy
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@FerroIgnique, TAKE OUT LOANS TO BUY LINK (not financial advise)
FerroIgnique
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@This_Guhy, While I am a financial advisor, I'm not a financial advisor to anyone on this site. If I were I'd tell them to take out life insurance so if they smoke themselves after taking trades based on your TA they'd at least have some means for their family
financial advice ;)