It's been a while since I have posted on LINK and with all the activity I want to give my two cents. First, Link was forming a nice ascending triangle some time ago and I was sitting starring at it thinking, man that looks like it's going to bust up to my original $10 LINK target(see some of my past ideas on that). Sure enough, we are almost there.
With this analysis, I am not saying LINK is completely topped yet. We have a lot of momentum which could drive it higher to $10. However, I am not inclined to buy right now either under the current market conditions. Sometimes I play it too safe but over the long run that has proved better than not.
What we can observe is LINK has completed a nice looking 5 point run and formed a massive channel/megaphone type pattern. If this is indeed the final point of the run. We should see LINK start to roll over here soon. How far down does it go? No telling really, There are variables that could push it all the way to $2 again, and others that might say we just go to $5. Whatever the case is, we can start buying if it were to go down or crash again. Just note that this chart I am posting is a weekly chart so it will take time for this pattern to play out, if at all. Hence I said we could keep going up to $10 in the near term.
Best of luck,
-Sherem
With this analysis, I am not saying LINK is completely topped yet. We have a lot of momentum which could drive it higher to $10. However, I am not inclined to buy right now either under the current market conditions. Sometimes I play it too safe but over the long run that has proved better than not.
What we can observe is LINK has completed a nice looking 5 point run and formed a massive channel/megaphone type pattern. If this is indeed the final point of the run. We should see LINK start to roll over here soon. How far down does it go? No telling really, There are variables that could push it all the way to $2 again, and others that might say we just go to $5. Whatever the case is, we can start buying if it were to go down or crash again. Just note that this chart I am posting is a weekly chart so it will take time for this pattern to play out, if at all. Hence I said we could keep going up to $10 in the near term.
Best of luck,
-Sherem
Comment:
So far this is playing out nicely. Not going to buy this for some time.
