Disclaimer: LINK has gotten destroyed in sats over the last week. This entire prediction relies on btc not dropping like a rock, so make sure to run a stop loss around 48 cents.
This is an update on my most previous post. I am limited to 3 indicators, and did not save the pitchfork from last time, so it is not perfectly set up (though it is roughly aligned).
Welcome friends, to this analysis of LINK. Many of you are probably familiar with Chainlink on a fundamental level, and may have watched my previous analysis on LINK which you can find here:
This is going to be a straight-on technical analysis to...
LINK/BTC has come to completion of the bearish Butterfly pattern after 472 days, now we are on the move to targets, respectively green bookmarked lines on chart.
It doesn't mean won't swing, it just means we are going to first target without making new highs again, don't be a believer! #short
There's also some bearish divergence and bearish hidden divergence on...
LINK broke out of its descending trendline and is currently breaking into resistance
If it can break above here, a test of ATH is on the cards and could very well break up higher into price discovery mode
As you can see the symmetrical triangle formation on the daily; ChainLink can be expected to break out in the coming days. MACD has flipped which has signaled an end to the selling pressure. Bears were unable to break through support of the triangle which signals a possible breakup rather than a breakdown. Resistance at the orange line which is the moving average...
Commodity : CHAIN LINK
Trade Type : LONG
Trading Against : BITCOIN
Entries : Double-UP Entries throughout the Buy Zone
Profit Taking : 25% at each TP point
Profit Locking : Move SL to break even once TP1 is hit, to TP1 once TP2 hits, to TP2 once TP3 hits and so on
Duration - 1-4 weeks
Investment in trade : 5% of the total Trading Balance.
Using a pitchfork, it seems that LINK's USD value has this line of best fit. If this is the line of best fit, I expect the time spent on each side to be roughly equal, so I expect a break above 60 cents before the end of April.
Additionally, I've included black S/R lines that seem to describe almost all price action dating back to the launch of Chainlink on...
Good evening. Browsing through the charts to find interesting setups and stumbled upon LINK. It's starting to look like we are about to break out of the falling wedge as we speak, which will act like a bull-flag at ATH.
We are still a little low in volume to get a confirmation of the breakout, but I'm keeping an eye out. The long term chart is nothing else than...
Trying to break from the falling wedge after retracing to the .382 fib level since the 60%+ run that happened on January.
Volume is currently rising.
RSI Rising and MACD about to bull cross.
Potential Targets on the chart. UCTS showing a buy on the 12h