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Worth_The_Ri5k
Mar 24, 2022 3:30 PM

Chainlink: 3 Bullish Signs Long

ChainLink / TetherUSBinance

Description

#LINK #Chainlink has been dormant and bearish for quite some time. There are a few key things to note:

1. Whales are increasing buying of the token
You can visit whalestats.com/analysis-of-the-top-100-eth-wallets to see the top ETHEREUM wallets and what they are purchasing/holding, many are starting to acquire LINK

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2. Selling volume decreasing on the chart with trapped sellers

This trading range has been going for quite some time yet the sellers were not able to secure a successful downwards breakout

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3. Fitting Wyckoff Schematic quite nicely

The Wyckoff Schematics help us identify the different between Accumulation and Distribution Trading Ranges - In a Trading Range the price Zig Zags up and down until eventually a breakout occurs, using the Wyckoff Accumulation Schematic we can see there are some clues in the similarities of the chart and the schematic that tell us LINK may be ready for a test of the upper bounds of the Trading Range.
Comments
Hector_Bienvenu
Perfect one 🤙🏻
Worth_The_Ri5k
@Hector_Bienvenu, Sure is! A little slow though compared to the rest of the current market structures.
Hector_Bienvenu
@Worth_The_Ri5k, Yep agree, but CCIP and Stacking will be the catalyst to send LINK! By the way, do you expect LINK to surpass its previous ATH ?
InkyGrip
nice analysis based on Wyckoff!
Ready for the new retest on the 35$
Worth_The_Ri5k
@plancton0618, Thanks. Im watching this trendline aswell it looks like a Bump & Run Bottom Pattern
InkyGrip
@Worth_The_Ri5k, yeah, wait for recover and start with bullish impulse
MikaelXrpKing
Good analysis good read too!
Worth_The_Ri5k
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