ChainLink Bullish Wave In The Making (vs Bitcoin)Here we are looking at ChainLink vs Bitcoin (LINKBTC). In one instance it moved with Bitcoin and in another instance it moved against Bitcoin; what can we learn from this? It doesn't matter what Bitcoin is doing, let's focus on LINKBTC.
The first dynamic we can glean out of this chart is the bearish-bull dynamic. We are focusing on the bearish because this is what leads to the bull.
➖ The LOW leads to the bull.
➖ Obviously, each TOP leads to a bear.
In 2022 both BTCUSD and LINKBTC produced a major low formation around May/June. Bitcoin went ahead to produce another low in November 2022, LINKBTC detached and instead grew until this date. Something similar can happen now.
A major low in August 2024, both BTCUSD and LINKBTC, and the rest. Bitcoin can do whatever it likes but LINKBTC detaches and starts to grow. This will happen to many Altcoins on their Bitcoin pairings.
Now, there are not many signals coming from this chart that are pointing towards a bullish wave for LINKBTC. We are making this assumption based on the market cycle, marketwide action and other market related dynamics. This chart does show reversal potential but it isn't strong.
Conventional traders would stop here and say, "Wait, confirmation is needed!"
The truth is that confirmation was needed in 1987, right now, waiting for confirmation most of the time means missing the boat. As the markets evolve, as the world speeds up, we have to be wiser and smarter, we have predict what is going to happen rather than just waiting before it is too late... Or, there are many different ways to approach a pair, a chart, a trade.
Some times we wait for confirmation, it depends on market conditions and the chart setup.
Some times we can jump in early because we are looking at a major low.
The important consideration is to understand that market conditions are always changing and the main goal is to end up with positive results.
If you can buy low and hold strong, it doesn't matter if you get the bottom by the cent or the top. What matters is buying low to sell high... Or sell high to later buy when prices are low.
LINKBTC just hit a very strong low, the lowest price since September 2019. This is enough to alert us to start to accumulate, because many other Altcoins are starting to grow. There are other factors involved, but you have to do your own planning and your own research.
Thanks a lot for your continued support.
Namaste.
