Part of my ongoing analysis of ChainLink (see links below).
LINK has pulled back, and currently confined in a narrow range. Breakout from this range to either side could accelerate rapidly. My guess is one more leg down, perhaps a spike to take out stops.
For pattern traders the recent "Double Top" or "Tweezer Top" is very bearish. Wyckoff traders call this range a "reAccumulation" or "reDistribution" phase. I await a breakout to either side and will gauge sentiment at that time.
Previous LINK analysis: (still in play) (caught a retrace) (perfect roadmap) (caught recent bottom) (caught the breakout) (caught all turns) (caught exact bottom)
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Breakout in Progress
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Broke out and running hard as expected
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So we came back to previous Resistance to confirm as New Support and are continuing the uptrend