Hi Everyone! Simply pointing out we are on the verge of seeing a "Sign of Strength" (SOS) confirmed the NEXT 9-Day and 12-Day Candles. The NEXT 9-Day candle begins January 10, 2021 and the NEXT 12-Day Candle begins January 13, 2021. We are currently experiencing upward pressure over the next several days. Does this mean the price action must go up "significantly" during a period of upward pressure? NO!!! It's POSSIBLE the price action can remain within a trading range during this period of upward pressure and we see a brief shakeout afterwards; just before resuming the upward pressure we are currently seeing in the 9-Day and 12-Day time frames. The same goes for ETHUSD and ADAUSD... They too may go sideways within a trading range during this current period of upward pressure and have a brief shakeout before resuming the upward pressure seen in the 9-Day and 12-Day time frames.
Found an interesting comparison here between ETH/BTC during the previous 2016-2017 bullrun and LINK/BTC during the bullrun present day
ETH down roughly 78% against BTC leading up to the first week of 2017
LINK down roughly 79% against BTC leading up to the first week of 2021
TradingYoda64
⋅
@beastedz, Sounds cool and all, but I have no reason to believe that LINK would act similarly to ETH in 2017. Different times, different tokens
But I hope you are right, of course.
boeing787
⋅
hi David. what do you mean by shake out? Dip of 10/20%?
JetSetGo
⋅
@boeing787, I am curious if LINKBTC will have a shakeout too.
WQPortfolios
⋅
@JetSetGo, In order for their to be a shakeout, it has to be bullish. Link/BTC is about as bearish as you get.
blocks2chains
⋅
@piratesfan78, If you are going to make such a strong negative comment, it would be more helpful if you support it with some well researched facts, charts. I am sure others would appreciate a more elaborated response.
WQPortfolios
⋅
@blocks2chains, if you watched all davids videos in the last month youd already have all that info. Not really sure what i said that was negative, either. Are you misunderstanding what i said???
blocks2chains
⋅
@piratesfan78, hey, I hope you are not taking my comment as negative either. I found your comment interesting and would have liked to know why you think like that. I want to see what you see, that is all. Thanks
I haven't watched all the videos yet but I will catch up at some point.
JetSetGo
⋅
@piratesfan78,
boeing787
⋅
@JetSetGo linkbtc It's already at critical support, hopefully will hold.
ETH down roughly 78% against BTC leading up to the first week of 2017
LINK down roughly 79% against BTC leading up to the first week of 2021