Very Bullish Behaviour in this Cryptocurrency: Chainlink (LINK)

The set-up in Chainlink is excellent. One of the most important lessons I have learned in trading is to focus on the assets that played strong defence in bad times, and were market leaders in good times. It's a simple philosophy, but most people playing the market are addicted to outsmart it by buying the assets with the lower price or market cap (in the case of crypto), or shorting the ones that ran up too much relative to others. Sometimes assets do play catch-up, but *usually*, there's a reason weak players remain weak relative to others, while the strong stay strong. That's the market telling you something. For the time being, as long as price respects the levels drawn in the chart above, the probability of Chainlink trading significantly higher in the months to come are very high, IMO.

This is my most recent Bitcoin analysis:

Comment:

Since hitting the key level, Chainlink is up about 300% and still among the leaders in the altcoin world. It continues to be my favorite altcoin on a pure technical basis.

We have a BO on the weekly developing:

And against ETH I am seeing high probability of trend continuation:

4.90 is now the place to add/buy

Comment:

As expected, LINK is breaking out against Ethereum and BTC on the weekly time frame for a very bullish trend continuation pattern.

LINKETH

LINKBTC

Comment:

I received an email today from a crypto hedge fund that is shorting LINK. I don't take these too seriously. Everyone has an opinion. But I am starting to see it surface in circles and I know in low liquid assets negative attention is likely going to cause selling pressure. With that said, I am keeping a close eye on closing out the position. My original target was in terms of ETH (See chart below). I will still wait for that target but have placed raised stops to protect profit.

Comment:

LINK is still a hold and a position to add to

Comment:

When markets are about to go parabolic the eyes see huge risk. The best trades are often the hardest. The first chart is what most people are seeing when they see LINK. The second chart is showing it's breaking out again.

With one chart you can't structure risk or have any perspective. The second gives you clarity.

Still a hold....