We have entered the bottom of the channel with some price leveling off and starting to show positive price action.
Notice how we are replicating the previous rally except this time on a much larger scale.
If you follow @WyckoffMode, then you will see that his estimations for LINK are following suit to see a solid $500+ LINK by EOY 2021
I feel like we will keep riding this channel for the next 6-8 weeks at least.
The setup is legit...we just need more bulls to step in going into the new year.
The election on November 3rd will be interesting in how Equities vs Crypto plays out against each other.
Who knows, the election may do nothing to markets and we still RIP north in price action.
LINKUSD is still bullish.
I would rather have a hefty correction now at these prices than to experience a dramatic one when we see price discovery fall between $80-120.
Take a look, let me know your thoughts.
Gooooood morning -
I hope you are enjoying some coffee this morning as I am.
We need local support to be sustained at $16.60 at least on the 4H (current image is the 2H). I would like to see some positive price action move into the $18 range for Bulls to regain confidence again. When it comes to LINK...the only Bears I have seen on here and YouTube are Shorters....
Recent rallies have shown mighty solid TA holding up. The rising wedge is normally bearish, but clearly saw a reversal when we had a mini rally that hovered around $8.50 (for 2 days), followed by a rising channel, which is bullish by default to around $9.60 (so far 3 days). NOW we are sitting 3 days into...
Good morning Everyone -
I wanted to offer a different perspective this week for LINK against the USD.
I rarely use Fib Circles because you can easily create any confirmation bias you want as the circle can be manipulated how you see it. I am generally not a fan of these styles of indicators.
That said, I went ahead and applied a Fib Circle that covers the...
I wanted to provide a visual update for my KNC play. Zooming out on the 1D we can see a clearer picture on price action from a birds-eye view.
In about 27 days we moved 155% and corrected slightly....the descending channel pattern itself is bearish, but the breakouts are HUGE.
Will we see another 150%+ percent move by the end of August? We can only hope...
HOW IS EVERYONE DOING THIS MONDAY MORNING?
I HOPE WE ARE EXCITED ABOUT CHAINLINK'S MOVE YESTERDAY.
SOME LIKE TO ATTRIBUTE WEEKEND PRICE ACTION TO ALGORITHMIC BOTS TAKING OVER AS WE GENERALLY SPEND MORE TIME OFF CHARTS AND WITH FAMILY/FRIENDS DURING THIS TIME; I BEG TO DIFFER.
WE HAVE SEEN SOME AMAZING PRICE ACTION COME THROUGH WITH CHAINLINK SINCE MARCH OF THIS...
If you bought KNC near its recent ATH, do not fret, more upward momentum is yet upon us.
As you can see we have bullish descending triangle that is nearing its formation lifecycle.
Fundamentals are strong as Kyber Network has included Chainlink into its protocol.
KNC only has 180M coins in circulation while LINK has 380M. Basic FA shows we should theoretically...
Applying an EMA Ribbon for BINANCE:NANOUSD shows solid support above the 20 EMA for the 1D. (The 4H looks very similar as well).
Stoch RSI shows grossly oversold conditions as well.
MACD and Stock RSI help confirm the bullish nature as price is staying suspended. I am just curious how far we move into the wedge before a nice breakout.