My thoughts on LINK both USDT and BTC pairing.
My thoughts are:
> LINK.USDT < based on the below chart, on the right plain
Based on my chart, we have a typical channel , as per chart and its found the fib. level 0.5 a area of demand and the 0.382 as support
On the daily, and longer time frames 2D, 3D etc the upward pressure is still there. However the weekly its dropping of
> LINK.BST < based on the below chart, on the left plain
* I see a temporary rally against bitcoin while BTC consolidates (forming a bull-flag likely a or ) for another leg up to 12K +
Snapshot of LINK.USDT a bit early in the day when I planned to draft this post (ref. below I.Charts)
I believe for what ever comes to BTC top this year will be wave 5 followed by or 123 downward impulse (correction) then to start the next wave up of the macro structure, from 2 to 3 point of the .
Hence my thoughts is that many of the ALTs have made their top in this cycle and the remaining time will be the 123 impulse to find the bottom while BTC does the same.
Note, I did buy into LINK today with the understanding that it will fall short or before sliding further down as the previous cycles as shown on the main chart.
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My PREVIOUS LINK. BTC chart posted
The bounce at 7 dollars was strong and shows that there is alot of demand or interest at that level. Hence I don't see at this point, LINK dropping price for some time. The only way this will occur is further dumps with BTC and that is unlikely any time. Hence the price might go above the previous level before it drops.
" Despite the massive gains posted, LINK looks bound for a steep correction
One of the biggest significant support barriers underneath this token sits between $7.4 and $8.7, which could prevent a further fall"