The Chainlink ecosystem has backing from strong investors and because of its track record of surviving an strong downtrend in 2018-2019 could Chainlink be a sleeper pick for the next bull market post this current recession.
Chainlink is a blockchain oracle built on Ethereum and is therefore an important technology in the blockchain world and it could therefore...
Its been a interesting May but not shocking in anyway , I have been covering this downtrend all year and talked about the crash in May 2022 months before.
Published January 2022
Published March 2022
How did I pinpoint May 2022 for this move? keep reading.
First lets go over the chart and possible move from here , so been playing around with this Gann Fan...
Today, I’m going to share something that’s a bit of a secret among those in the know. I will shed some light on the first secret today, which is the volume.
The first topic for today is the volume. What you see is a chart that’s a combination of 10 minor cryptos weighted based on the volume to create a single chart for us to analyze. This is part of my basket...
LINKUSD (4H Timeframe)
The market is in a downtrend, and we are waiting for an entry signal to go SHORT below the 12.52 support level. Only the upward break of 13.55 would cancel the bearish scenario.
Stop loss: 13.55
Take profit 1: 11.95
Take profit 2: 10.90
Strategy: Bearish Breakout
Sitting at $7.60 resistance, chainlink looking to test $9 but having difficulty doing so. Possible retest of support around $6.50 if it doesn't break upward. Watch out for the false break higher. Keep an eye on the candles. Watch out for long candles in the current stagnant trend, if that happens expect an inevitable retracement depending on the direction.....
Market is in overall downtrend, but in 1h timeframe we can see an upwards correction, market already formed a main lower high, which means we should see a break of a correction structure, retrace back to it and down a downfall of a price at least to a recent main lower low.
Entry: 7.29 (After break and retest)
Invalidation: 7.98 (Above main lower high)
The blue line is Bitcoin from 2015-2019, you'll notice it's not exactly the same but very similar. A lot of people are in complete fear right now and I think this chart gives some perspective as to the current opportunity. If price action for LINK is anything like BTC, we should see an accumulation range for the next couple months before the start of a new bull...
The link marines have a sour taste in their mouth , they are confused on why the link is not going up . If you go to the official chain link twitter you can see with every official link post showing the project's massive progress is met with a wave of angry investors asking why the price is falling and calling for the end of Chain link .
All we need to do is...
Chainlink trades between two ranges.
Price is between 100 and 200MA on the 30m Timeframe.
LINK continues to hold the uptrend line.
I expect that the price will test the trend line and after fixing above it will continue to rise to the lower boundary of the upper range.
Testing support @ $10.45 could possibly see a Break out to retest $12. Either way looks bearish as both current positions are a bearish triple top @ $10 or $12 If no further progress is made.past the $12 previous high.