its_maxbro

$LINK + Modified Schiff Pitchfork = Dead-on accuracy

Long
its_maxbro Updated   
BINANCE:LINKUSD   ChainLink
I love $LINK on the 4hr chart. I've been experimenting with fans and pitchforks, and this one is AWESOME for identifying pivots. I used the Modified Schiff pitchfork on this. Which is good for sideways market action, as it moves the median 50% up and 50% over in terms of price and time. Just look how it touches the .5 and the 1 deviations, but then wicks PERFECTLY down to the 2.0 deviation. Chainlink has been consolidating for what seems like forever now. I think this is just a matter of time before it breaks through the lower .5 resistance and the median. I'd look for a strong move in the next couple weeks? But I'll say it again. $LINK is a buy and hold for me. Long term investment and waiting for staking to be implemented before this thing goes to the moon.
Comment:
Another note. If you draw the three pivot points for the pitchfork. The low, the high and then the next significant higher low? You can cycle through the different pitchforks and see the confluence between them all. The Schiff pitchfork also works very very well with the flash crash bouncing perfectly off the 1.5 deviation.
Comment:
Loving this price action yall! Technical indicators like this really work well because they're almost a self fulfilling prophecy. Same with fib levels. And if you think about the chart as just a translation of human emotion, fear and greed, then it starts to make more and more sense.

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