I want to re-iterate that I truly believe $LINK is one of the most important and bullish projects in the entire #crypto space. I've talked about in previous posts how $LINK, despite being suppressed by the sell pressure of around 1 million $LINK per week being sold by the #Chainlink team, is still consolidating at around 30 dollars and is fighting towards higher highs and ATH's.
If we draw a newer pitchfork from the start of the most recent run, and have it span the top and the subsequent dip? We can see a nice LTF price action developing on an upward trend. When drawing these pitchforks I look for the most confluence between the price action and the major pitchfork prongs. I'll switch between the original, schiff, or modified in order to find the most interaction. Then we use this as a guide of sorts to predict what the trend might follow, and to find likely price targets!
In this chart, we can see that the PA has really found that lower 1.0 prong to be support. It's been riding in the channel between the lower 0.5 and 1.0 prongs and was recently rejected from an attempt to break above. I think we'll see a continued march up this channel while we wait for March 12th, which is when the last Chainlink team market dump of 500k link will happen! Hopefully that will be the last of the sell pressure for a little while as the wallet that has been selling 500k link every 4 days will be emptied on that date!
I guess we'll see. Either way, I think we'll look back at sub 100 dollar link and laugh / cry that we didn't take more advantage of such a ridiculously suppressed price. Imo? $LINK is a $3000 dollar coin at minimum...
If we draw a newer pitchfork from the start of the most recent run, and have it span the top and the subsequent dip? We can see a nice LTF price action developing on an upward trend. When drawing these pitchforks I look for the most confluence between the price action and the major pitchfork prongs. I'll switch between the original, schiff, or modified in order to find the most interaction. Then we use this as a guide of sorts to predict what the trend might follow, and to find likely price targets!
In this chart, we can see that the PA has really found that lower 1.0 prong to be support. It's been riding in the channel between the lower 0.5 and 1.0 prongs and was recently rejected from an attempt to break above. I think we'll see a continued march up this channel while we wait for March 12th, which is when the last Chainlink team market dump of 500k link will happen! Hopefully that will be the last of the sell pressure for a little while as the wallet that has been selling 500k link every 4 days will be emptied on that date!
I guess we'll see. Either way, I think we'll look back at sub 100 dollar link and laugh / cry that we didn't take more advantage of such a ridiculously suppressed price. Imo? $LINK is a $3000 dollar coin at minimum...
