Four weeks ago I made my latest update on LINKUSD and how it gave a lower buy signal as it always tested its ATH and 1D MA200 before rebounding for a new High:
The current study is basically a continuation of the following idea, as I will try to determine where ChainLink can make its new High:
As you see on the current chart, the dominant pattern is a Channel Up on the 1W time-frame. The current break-out sequence resembles that of June 2019, which 3 weeks after the break-out reached a Higher High on the Channel.
In June 2019 that was on the 3.0 Fibonacci extension. Assuming the rise will be slightly weaker, as was Phase 1, we can expect a High within $24.00 - $30.00. The LMACD is also quite indicative of where we stand.
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Awesome analysis, I'm amazed at how much effort you put into your analysis and help so many people, for no profit or expectation, truly humbling.
I'm sure i speak for the community when I say thank you!!!
I've made a lot on Link, and Chain and Comp and ERD, I think we are now seeing the early days of a massive shift in blockchain and DeFi, people will look back on this like they did BTC and say damn wish we were in back then.
And BTC still has so far to go!
HODL :)
TradingShot
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@NilBalance, You are welcome Nil! Thank you also for being such an active member here and sharing your thoughts and experiences with the community. HODL it is of course!
bavoire
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think in targets, v simple with Link, means nxt 20$, then 30$ and so on,
I'm sure i speak for the community when I say thank you!!!
I've made a lot on Link, and Chain and Comp and ERD, I think we are now seeing the early days of a massive shift in blockchain and DeFi, people will look back on this like they did BTC and say damn wish we were in back then.
And BTC still has so far to go!
HODL :)