LINK's breakout from 25 dollars went as high as $29.37, but was quickly forced down by massive sell pressure from the #Chainlink team. A nice retest of the $25 area and a large wick on the 4 hour candle still looks pretty bullish to me. If this 4 hour candle is followed by a push above the pitchfork's .5 deviation? That would put price around $30, which would be a big psychological S/R flip.
TL:DR look for link to break above the pitchfork median and continue to 30 dollars? If it does, I'd imagine more volume would follow and people chasing the pump would dive back in. It could also fail to establish itself over the median and fall to retest the .5, and even the 1.0 deviations. Either way, LINK is a strong buy at sub 30 dollar levels for me. I'm only stacking and holding while waiting for staking to be implemented.
Solid maxbro...LINK price discovery experience has been strange.
its_maxbro
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@mergeplot79, Yeah I fully expected LINK to be front running the alt season hyper pumps. We can speculate as to why it's being manipulated all we want, we're still scratching all time highs here too. I think the longer it takes to go up the stronger that support actually is and thus it won't hyper dump as much as some of these massive gainers. Multi year play, the chainlink team doesn't care about market cycles, they care about building the foundation of the future of defi. Quality over speed. I'm comfy :) I hope you are too.
mergeplot79
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@its_maxbro, I'm saddled up ready to roll. Concur on all points!!!
derininam
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dot is about to catch up, so I hope the price suppression is over in link.
geekpe
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my bet is 23 24..
boeing787
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why do you think chainlink team wants to keep the price down?
its_maxbro
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@boeing787, I don't think they're intention is to "keep the price down". I think their intention is to increase their liquid capital so that they can hire and pay for 30+ job openings and to expand their organization. You can look on their website at all the job listings.