Next chart is devoted to one of my favorite Cryptocurrency and Blockchain Projects so far. Chainlink and its native Token $LINK (Chainlink).
Initially, my first idea of this Chart was tweeted on the 01.June on Twitter (Find below). Chainlink is pursuing a clear Price Channel started in 2020. It's noticeable, that the MACD in combination with RSI Indicator working pretty well for great price entries. I'm a long term investor and always hunting for great Entry Points. Now, Chainlink Price is experiencing a hard down movement but holding the Line above the lower Price Channel Zone. Just a look to the MACD and RSI, a bit of downtrend could be possible to close the RSI GAP (Touch of oversold zone). If the Crypto Market and especially Bitcoin recover faster than expected , certainly Chainlink will move up as well. Comparing the former down trend cycles, after each bottom confirmed by MACD & RSI, 100 days of uptrend could follow.
So let's see, what the Market Quarter End Close will have in the bags in terms of results, because we all know, that Traditional Markets are also affecting Crypto Markets in both, positive as well as negative.
No financial advice, no investing advice.
Just thoughts and ideas.
Call of Crypto, out!
Initially, my first idea of this Chart was tweeted on the 01.June on Twitter (Find below). Chainlink is pursuing a clear Price Channel started in 2020. It's noticeable, that the MACD in combination with RSI Indicator working pretty well for great price entries. I'm a long term investor and always hunting for great Entry Points. Now, Chainlink Price is experiencing a hard down movement but holding the Line above the lower Price Channel Zone. Just a look to the MACD and RSI, a bit of downtrend could be possible to close the RSI GAP (Touch of oversold zone). If the Crypto Market and especially Bitcoin recover faster than expected , certainly Chainlink will move up as well. Comparing the former down trend cycles, after each bottom confirmed by MACD & RSI, 100 days of uptrend could follow.
So let's see, what the Market Quarter End Close will have in the bags in terms of results, because we all know, that Traditional Markets are also affecting Crypto Markets in both, positive as well as negative.
No financial advice, no investing advice.
Just thoughts and ideas.
Call of Crypto, out!