Hello! Here is LINK USDT update on price action featuring Daily and 4h and 1h timeframes.
Looking for sideways action during next days for link. Price on bigger timeframe sloping in big triangle shape, meaning distribution is happening.
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All the required technical explanations are written on the chart.
Also considering the fundamental factors and the capital locked in DeFi, we could witness another DeFi boom and Chainlink is one of the best DeFi tokens for investment.
Although, keep an eye on Bitcoin, DXY, and the upcoming monetary decisions by the Fed and Biden.
The new growth trend of the LINK market , which started on December 24, is now being tested for strength. Approximation of the LINK price to historical high and the test of the $18.43 mark provoked the beginning of the correction.
Now sellers are testing the local level of $14.13 . Throughout December, this mark was a problem for buyers. It is the fixing of...
Recent correction may have seemed scary and may have made bears 🐻 jump on their ships 🛳 hoping this is it, the apocalyptic drop they've been waiting for. Although possibility is there that this is the beginning of a correction, looking at this chart make me think that LINK has a chance to run to ATH for the following reasons:
1. We are in a parabolic advance.
2....
Link is forming a large pennant inside an ascending channel. Therefore long term, Link is bullish, but for now, it seems we've hit the top of the pennant and will correct lower.
Aim to play the range and once we reach the apex, wait for a breakout.
Right now bias is short, aim to reload at $13 as indicated by the dotted line if the opportunity comes.
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Link was made a triangle of 189 days approx on the 4TH Wave, the ATH and start of the Triangle match with 100% Fib Level of 1-2 waves.
Stoch RSI is going up with increased Volume and Momentum on Elliot Wave Oscillator.
Now these are the objectives using a Fib Extension of 3-4 waves.
Every tick is taken as a TP.
SL is on the lowest part of the candle that...
Only due to other major coins being very overbought right now I believe that Chainlink (LINK) will see a small correction in the coming week or so, before moving on upwards again. There is room for this coin to grow much higher I believe.
Despite the pre-Christmas XRP crisis messing up the trend for a few days Link has fallen back into its previous form.
- Immediate - Target was £18 but now seeing ATH to be challenged and potentially broken if BTC pushes up to $40k mark in coming days. $23+/150% from base
- Mid - Expecting markets to pull back late Jan so plenty of time for ATH to be hit
- Long -...
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It remains to be seen if it can rise above the 20.1111 point with support at 16.8196 and the uptrend line.
We'll see if we can...
Hello Traders
Having gained the benefit of 2 strong support zones, Chainlink is once again trying to break out the descending channel. The previous top levels would be less we can expect after a successful breakout.
Stay Prolific everyone!
LINKUSDT
Confirmations:
> Above Monthly R1
> Above Weekly R1
> Looking to retest daily R1 and VWAP
Account: BINANCE:LINKUSDT
> Position $12.7k position
> Target 1.5%
> Profit $200
> Hold 15 min
> 4/01/2021 - 18:27
Comments: Didn't like the entry so closed early and was worried a BTC dump would affect trade which it did, Link dumping over 13% down to VWAP...
