LINK for 100% gains, channel pullback to $2.05 or resist @ $4.80
I posted a prediction for link in early January. I Called for Link to run from $1.70 to $3.30 by around the end of January for nearly 100% gain! My prediction came to fruition today, 100% gains, not too shabby. Now here we are, top of the 7 month ascending channel, what next?
If you are just trading LINK, I would consider this a safe exit point for maximum channel profit. Take your money and be happy. There is a high probability that the price could pull back to about $2.05 by mid-late May 2020. Consider any touching of the bottom of channel as a fairly strong buy signal.
I also hold LINK long, I think its a great concept that is already finding much adoption. If we see price top $3.40 we will have broke up out of channel and already will be higher than our last run in October of 2019 which sets precedence that this is a bullish, ascending formation. The price to beat is our ATH from last June's bull market, $4.80 ATH! And the good news is that if we break that $3.40, $4.80 will likely be our next resistance point! If we break up out of channel, there is a really good chance we form a wedge between the ATH and the top of this ascending channel. If so that would put a major break out (up or down) around August 2020. If we continue to ride this channel out, unfortunately be as late as late 2021 before LINK is positioned break its ATH. I believe we are just on the initial cusp of the current bull run and are likely to see an ATH for LINK sooner than later but I have no proof for or against that in the charts.
This is not investment advice, you should do your own research. If you researched this and bought around the time I wrote my first article on this, congratulations on your 100% gains!
Also please consider checking out the data on our site, vcdepth.io, the number one site for crypto global market depth and the only site with historical market depth. We have added the most common TA tools along with our proprietary depth data. Here you can see bids & asks @ 5% depth of market along with the MACD and RSI @ vcdepth.io >
If you are just trading LINK, I would consider this a safe exit point for maximum channel profit. Take your money and be happy. There is a high probability that the price could pull back to about $2.05 by mid-late May 2020. Consider any touching of the bottom of channel as a fairly strong buy signal.
I also hold LINK long, I think its a great concept that is already finding much adoption. If we see price top $3.40 we will have broke up out of channel and already will be higher than our last run in October of 2019 which sets precedence that this is a bullish, ascending formation. The price to beat is our ATH from last June's bull market, $4.80 ATH! And the good news is that if we break that $3.40, $4.80 will likely be our next resistance point! If we break up out of channel, there is a really good chance we form a wedge between the ATH and the top of this ascending channel. If so that would put a major break out (up or down) around August 2020. If we continue to ride this channel out, unfortunately be as late as late 2021 before LINK is positioned break its ATH. I believe we are just on the initial cusp of the current bull run and are likely to see an ATH for LINK sooner than later but I have no proof for or against that in the charts.
This is not investment advice, you should do your own research. If you researched this and bought around the time I wrote my first article on this, congratulations on your 100% gains!
Also please consider checking out the data on our site, vcdepth.io, the number one site for crypto global market depth and the only site with historical market depth. We have added the most common TA tools along with our proprietary depth data. Here you can see bids & asks @ 5% depth of market along with the MACD and RSI @ vcdepth.io >