LINK is charting some insteresting similarities to it's movements in 2019 right before breaking through it's previous high and setting an entire new level of value for the coin. If the chart plays out similarily in 2020 we are on the verge of a massive breakout for LINK.
On the chart posted above, you can see a side by side comparison from the 2019 and 2020 bullish move that shot up to the previous highs. Both times the price came back to test the 50% FIB retracement area and found support in 2019 launching it to somewhere around 5 times its value. The current 2020 retracement from the highs is so far finding support on the same 50% Fib level. I know a lot of people are excited about LINK and I believe it's a great project. But more than that it has one of the best looking charts in Crypto in my opinion.
Today's candle is printing a bullish engulfing candlestick pattern similar to the one that came off of the 50% FIB channel support in 2019. It appears to me like we are in for a similiar move that has the potential to propel LINK to $6 then potential continuation much higher (towards $10) if the pattern repeats. Obviously no guarantee to do that, but if you are in Crypto I think this is a coin that you absolutely need to have some of.
Let me know your thoughts on this observation.
Thanks! May your crypto trades be super juicy this year!
-The Crypto Juicer
On the chart posted above, you can see a side by side comparison from the 2019 and 2020 bullish move that shot up to the previous highs. Both times the price came back to test the 50% FIB retracement area and found support in 2019 launching it to somewhere around 5 times its value. The current 2020 retracement from the highs is so far finding support on the same 50% Fib level. I know a lot of people are excited about LINK and I believe it's a great project. But more than that it has one of the best looking charts in Crypto in my opinion.
Today's candle is printing a bullish engulfing candlestick pattern similar to the one that came off of the 50% FIB channel support in 2019. It appears to me like we are in for a similiar move that has the potential to propel LINK to $6 then potential continuation much higher (towards $10) if the pattern repeats. Obviously no guarantee to do that, but if you are in Crypto I think this is a coin that you absolutely need to have some of.
Let me know your thoughts on this observation.
Thanks! May your crypto trades be super juicy this year!
-The Crypto Juicer
Trade active:
So far so good! We have been able to tick above previous highs today and confim the likelyhood of further continuation to the upside. Time to do a deep time of possible profit taking targets and trading strategy if history indeed repeats itself for Link.
In reviewing the last bull run for Link there were a few Fib Extension targets that I think will be key to look out for. The 1.0 Extension and the 2.414 and 3 Fib Extension area's as extreme move targets. You can see it mapped out on this chart pictures.
In reviewing the last bull run for Link there were a few Fib Extension targets that I think will be key to look out for. The 1.0 Extension and the 2.414 and 3 Fib Extension area's as extreme move targets. You can see it mapped out on this chart pictures.