Link has been gaining on Bitcoin lately, and really, Chainlink has been gaining on BTC since it's inception years ago. One of the few coins that has years of macro upside against BTC. Today this chart notes current resistance levels to watch in the next several weeks to months and I do think LINK will continue it's trend up over the coming years.
3 DAY LINK CHART WITH 3 TOUCH POINTS ON OUR LOWER SUPPORT LINE. ROUGHLY 450 DAYS BETWEEN CAPITULATION TOUCHES. 3 DATA POINTS. MAYBE WE SEE A 4TH TOUCHPOINT IN AUGUST 2022 AT A LOW OF APROXIMATELY $140.
A DAILY CHART OF LINK/USD WITH NO PRICES SHOWN, YET SIMPLE TO SEE WHAT THE TRENDS ARE AND WHAT YOU ARE LOOKING AT. LESS CAN BE MORE. THE YELLOW LINE IS OUR 21 DAY EMA. THANK YOU AND LET ME KNOW IF YOU HAVE ANY QUESTIONS (BESIDES MY ALL CAPS LETTERING LOL)
ETH/BTC on the weekly chart shows the significance of a weekly candle closing above the 21 week ema. For the past nearly 4 years, we have seen much higher valuations in the coming days and weeks after closing above that 21 week ema.
If history continues to repeat as it has for ETH/BTC over the past 18 months, then we should be headed back to the top of this shown trend line. Once we get there, if $BTC is valued at $60,000, $ETH would be $3,000. If $BTC is $70,000 ETH would be $3500 at a .0500 ETH/BTC valuation. (BTC price x Eth/Btc value= ETH/USD value.
If the valuation of LINK/BTC continues to drop, I have noted a solid price floor support level. This has been a key level for nearly 2 years now! There is a slow uptrend forming over the past few weeks, and if we continue, I would expect a stronger move up in the next few weeks or so. Please feel free to follow us on Twitter, Youtube, and Telegram!
Nice bullish move from Link today. I fully expect a short term retest at minimum of $35 in the coming days. (5-15) As we approach I will gladly re-evaluate to see where we could be headed next! Follow me on YouTube and Patreon to learn tons more! Thanks all!