florasora

LINKETH Momentum Shift - Resembles BATBTC

Long
BINANCE:LINKETH   ChainLink / Ethereum
LINKETH is starting to show a stall in bearish momentum. Bears stopped selling their ETH for LINK--at least for now. If this is true, based on the Fibonacci Retracement /Extension, we could be looking at a possible 2x gain against ETH for LINK!

Some would argue that a valuation of LINK at under 20B USD is criminally undervalued. What do you think?
Comment: UPDATE (10/10/2021):
So, the LINKETH ratio is making lower lows. This is definitely alarming at first--I don't like being in bleeding trades.
However, I cannot help but be reminded of BTCUSD right before it exploded 50% or so. Which is a trade I also caught, so I am quite tempted to stick to this trade for the time being, though it does look somewhat scary, since the ratio keeps bleeding and bleeding.
What this reminds me of is the "spring" of a Wyckoff (accumulation) distribution. The spring is Phase C of a Wyckoff distribution, where the price seems to make a lower low, with very negative sentiment. Then once all the baby money has sold, and the sentiment reaches peak negativity, an unexpected, hard-to-chart explosion happens. That is my bet at the time being.
Comment: So for a short moment, I'll be out of my LINK trade. But I swear I believe LINK will do really really great this run, and it's still very undervalued. But I'll be putting my BTC/ETH gains into it. More LINK for me in the long run. It's really a patience game and being willing to cut your losers.
BTC is king.
Comment: WARNING:
Long trade (reversal) may be validated by the current bullish divergence on the RSI (higher high) versus price action LINKETH (lower high).
Watch for a reversal.
My eyes are peeled on LINKETH and BATBTC.
Comment: There are many... MANY bullish divergences for LINK right now. LINKUSD is breaking out of a symmetrical triangle. LINKBTC failed to break down out of a symmetrical triangle, and may try to break up in the next few weeks (within "2 weeks," might I say?).
Additionally, the RSI for LINKETH is making a bullish divergence--failing to make any lower lows with regard to the RSI. Instead, what we see is lower LINKETH values with rising RSI values. After the massive capitulation on LINKETH, I am very ready to capitalize on the overwhelming fear, due to the fundamental strength that LINK, and crypto as a whole, is showing lately. LINK is my safest "moonshot," whatever that means. I.E.: BTC might make only a 2-3x from here. ETH as well. But LINK? LINK has fallen 90% from its LINKETH highs. Imagine it reclaiming just half of that?
It's a very juicy trade, and as of now, at 32 USD per LINK, and LINKETH values seeming to lose bearish momentum, this bet is just way too juicy. Even as ETH starts to make new highs at 4550 USD...

Happy trading!
:)