jonathanvn

Chainlink Comeback Incoming: Possibly New All-Time-High!

Long
COINBASE:LINKUSD   LINK/USD
Chainlink is forming bullish triangle.
Chainlink is finding good support on 200 EMA .

Those two combined make up for a very reliable sign for Chainlink to gain massive bullish price movement!

In the past I've made an exact same idea in the exact same scenario whereby price eventually sky rocketed to 250% against BTC .
I highly recommend you to check this out:

At the time price tested and bounced one last time of support before breaking this triangular formation to the upside, first consolidating at first horizontal resistance and then starting a massive run.
The only difference now is that my analysis is against USD. BTC is performing extremely well and LINK is underperforming BTC very hard.
LINKBTC is back at its all-time-lows . This could be huge support but since BTC is gaining extreme popularity and institutions are STILL buying, this is not reliable price action data!

Disclaimer on bottom trendlines
A: very strong shorter term diagonal trend support
B: longterm diagonal trend support
(Both make up for the same triangular formation so it actually really doesn't matter which one you follow.)

In case you're interested, I called an another ATH on Chainlink 1 year ago:
(This shows again that Chainlink repeats its behaviour over and over again.)
Comment: Triangle broken, rejected at resistance and currently retesting triangle. LINKBTC is starting to make a Head & Shoulders pattern at support! (Check 4H Timeframe for this.) Both LINKUSD & LINKBTC are indicating upcoming bullish price movement!
Comment: LINKUSD nicely retested triangle on 4H TF:
Comment: LINKBTC almost finishing Head & Shoulders pattern on 4H TF:
Comment: LINKBTC looking bullish:
Comment: Grayscale, a large asset manager owning $25+ billion in crypto holdings whereof $2.17 billion in Ether now added LINK to their holdings. I recommend you to checkout this textual-based story here: https://cointelegraph.com/news/is-graysc... Grayscale's LINK TRUST Entity is confirmed after reading this: https://twitter.com/Tap2Crypto/status/13... Might want to check this out if I were you but mkay

Comments

thanks.
+1 Reply
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