Impressive 16% Surge: LINK has witnessed a notable 16% jump within six days, consistently forming bullish candles within the trading channel.
Breakout Run Imminent: The current bull run hints at a potential breakout, challenging the resistance trendline.
$20 Price Target: An upward breakout beyond the channel could catapult the LINK price towards the $20...
It is high probability setup for Chainlink, currently, link is trying to break the previous day high which is at $15.08.
it has to meet following condition for us to get short with link.
1. Current trendline has to be break.
2. important current support has to be break.
3. if first two condition met third condition will automatically met which is trading below...
The potential Wyckoff reaccumulation pattern on the Chainlink (LINK/USD) chart is definitely worth exploring. Let's unpack the details:
Supporting the Wyckoff Reaccumulation:
Price action: LINK has been trading within a defined range with multiple spring and shake phases, potentially indicating accumulation by institutional players.
Volume profile: Increased...
ChainLink (LINKUSD.P) continues to move within a distribution phase, lower highs, really low volume... It's been many years since we have a distribution phase across many Altcoins, this is not yet confirmed.
If prices move and close above the last high, 17.68 and continue to hit a new resistance level, instead of distribution we had consolidation. If we see a...
AFter some wickof distribution, Link started forming something significant where we can track things more easily.
Projected some areas where wave 4 could land.
Lovely and clean count. Everything an Elliotitian wants. Wave 4 could take some time now...
Negative Trend in Falling Channel: LINK price exhibits a bearish cycle within a falling channel pattern.
Formation of Three-Black Crow Pattern: Recent price action in LINK shows a bearish three-black crow pattern, signaling potential downside.
Risk of Bearish Breakdown: Potential breakdown may plummet LINK price to $12 support.
Market Correction Impact: LINK's...
In previous analysis that I published this past weekend, I believe I was incorrect about the location of wave 5. I've since updated it. Simpler, cleaner count... I like this one better.
Old analysis:
Just a thought/idea re. chainlink near term.
The higher timeframe 5 wave impulse is not complete, nor does it appear that wave 4 is complete.
I think a move down to $11 is possible in the short term. That said, the A/D indicator (accumulation/distribution) is printing a divergence on time frames lower than 12h. Longer term, I think link is headed to $27.
CRYPTOCAP:LINK is consolidating in a bullish flag. I'm looking for a $17 entry mark, testing support and heading up to next resistance area.
If support broken, then I'm entering at the $5 lows for a long position with major potential for big gains in the future.
I know most traders are skeptical and mega bearish now because of the Bitcoin weekly close. I’m wondering if some blue chips alts take off while btc dominance falls.
Good luck to everyone! This analysis is for educational purposes only and does not constitute financial advice. Conduct your own analysis before making trading decisions.
After completed 5 waves up, we are looking lower against 6.507, to complete an ABC correction, wave (2), with possible targets 0.5-0.618 fib retracement.
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Future updates will be posted as updates to this count.
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Good luck!
I am sure so many people feel left out with the BIST:LINK buzz and missing out on them sweet gains after that accumulation breakout, well I have good news for you, you have a second chance, set alert on that orange diagonal resistance because you can trade the breakout up!
key notes here is, the ascending channel was a signal of a break down!
many faded this,...
