Based on the EW count, like a lot of other crypto charts we are in a long W4 correction that's tired a lot of people out. LINK is defying gravity, hopefully it stays that way when BTC resumes upwards.
IF the LINK chart fulfilled destiny and met the 0.618 extension target then the price relative to a 43000 BTCUSD would be 374.
So far we are flipping the yellow line to support, breaking the triangle, on bullish MACD divergence. The worst case is that LINK actually outperforms on this chart relative to a sinking crypto space... In which case it would be a useful raft.
100K BTC would mean an 807.06 link, that's a 28x from the current price of 28 LINKUSD.
$374 is so outside the realm of logic. It’s not even funny anymore
RyanOReily
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A 374 $ price for one Link would put the market cap at 175 Billions (we are currently at 13 Billions). A price around 800 $, and we will be close to 400 Billions.
I would love this but it seems very optimistic to me.
ptero1492
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@RyanOReily, It is very optimistic. This is what the wave says, I don't claim that this will happen, even if I would also love if that were the case/
@Mickfoley, Arguments will be settled in a few short weeks
tommyd85
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you expect we'll test the 37,000 sats level one more time?
ptero1492
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@tommyd85, I would think that would spell trouble for long-only hodlers. My suspicion is that bottoming is occurring around 41100, we should want to avoid dipping below 40000 if we are to hope for ATH in the next few months. Have a plan for any scenario