After the bubble popped, Link came back down to test support on the parabolic line. It is now showing hidden bullish divergence on the weekly chart. Patiently waiting for $17.
Bitcoin may be ready for a major retrace soon, be careful here.
So would you wait for Bitcoin to retrace first (which would send LINK a few wicks below the parabolic support line), and then buy? Or should you buy now and hopefully the BTC retrace doesn't impact it that much?
LINK is one alt that can go against the grain of BTC. Should be a short term wick if any, be careful with your stop loss if you go in now.
ttran123
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@ShawView, Thank you for your point of view and opinion. But yea I agree, whether we get in at $10, 11, 12, 13 for LINK, it doesn't matter right... if we look at $50 LINK in the end of this bull run, or even $100 right.
ShawView
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@ttran123, I agree. As long as you get in and wait long enough, any entry will be profitable with LINK.
B_Musk
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@ttran123, bull run, as in the next few weeks, or the entire multi year bull run? If the next few weeks, LINK is capping out around $30, maybe $40-$50 if things really heat up. As for the entire multi year bull run, $100 would be far too conservative.
ttran123
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@B_Musk, in the next few weeks I think BTC will be severely corrected (30~40% ish), bringing alts down with it as well. So I think it'll be a few months perhaps, to see LINK really take off. But yea, my previous comment was meant for the entire multi year bull run. I'm being extremely conservative because I have about 200k in LINK sitting at 10x leverage now. $100 LINK would put me to retire immediately, so I try not to get my hope up too much lol.
B_Musk
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@ttran123, That's awesome, best of luck with your investment. As far as LINKs performance goes, it's currently fairly correlated to ETH's historic price action, including the number of days it takes to reach its tops and bottoms (why? I don't know). The difference is LINK is hitting higher local tops each step of the way. If this continues, LINK is hitting around $2,000 by the end of 2022. Also, When ETH was at the current stage that LINK is currently at, it took less than 10 days to reach its peak of $20, which is equivalent to what is likely LINK's upcoming $30-$40 local top. Happy trading.
ttran123
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@B_Musk, Right now I'm still waiting to buy in on LINK when the RSI on 4hr hits 35-ish, but it seems like LINK is quite resilient and just wanna keep going up.... really wanna FOMO in now lol