Everything within this channel is just noise, not until we break above or below it do I expect anything too insane to happen with the price of LINK. It's not super reassuring that it's actually a rising wedge as opposed to an outright parallel channel, HOWEVER, given the fact we're in log view AND it's the ALL TIME chart, I think that means less than it normally would.
I'm bullish on LINK if for no other reason than this chart right here. There is NO other chart in crypto that remotely like this, at least as far as I'm aware of. Aside from that, if it succeeds in playing all the roles it has the potential to play in global finance, it is also arguably the most fundamentally sound project in all of crypto.
Here's a zoom in on our current situation and the fractal I've drawn up,
Don't put too much weight into the fractal, the channel is what matters. Whenever you're curious about how link is doing, THIS is the chart to check. Always zoom out. Never sell. $LINK marines stand strong.
I'm bullish on LINK if for no other reason than this chart right here. There is NO other chart in crypto that remotely like this, at least as far as I'm aware of. Aside from that, if it succeeds in playing all the roles it has the potential to play in global finance, it is also arguably the most fundamentally sound project in all of crypto.
Here's a zoom in on our current situation and the fractal I've drawn up,
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it's about to go ballistic
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Considering im beyond confident in this falling wedge, I think there are only a few things that can happen from here.
1. The market as a whole could continue to recover and hopefully make new highs before another multi-year bear market. However, link pumps hard and faster, front running the market and in turn, breaking out of its falling wedge.
2. The market could stay relatively flat and do a lot of crabbing, while link starts to rise (least likely)
3. The market could roll over and make new lows, however Link wont fall as far or as hard, at least outside of a few volatile wicks.
This would also break it out of it's falling wedge, but still wouldn't make it a good investment overall. That's the interesting things about charting against TOTAL, a bunch of green candles don't necessarily mean you're gaining in USD.
1. The market as a whole could continue to recover and hopefully make new highs before another multi-year bear market. However, link pumps hard and faster, front running the market and in turn, breaking out of its falling wedge.
3. The market could roll over and make new lows, however Link wont fall as far or as hard, at least outside of a few volatile wicks.
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Chainlink may have an NDA in effect with SWIFT, as CEO Sergey Nazarov recently spoke at an event held by the organization, and has also gotten a profile on the SWIFT website, however, there has been virtually no news or coverage of this, which strikes me and many others as odd.
Chart remains the same, trapped in the wedge but seeming to favor hanging out around the top of it
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Let's see some action
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It begins
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Not gonna lie, pretty poor performance compared to what i was expecting. I suppose due to the wedge being so huge, it may also take a bit longer to work its effects. However, we're at a pretty critical point right now, both on the original log chart vs USD, and on the TOTAL2 chart, will be watching it closely the next couple of days.