Chainlink 1D -- Bottom Reached. Enter!
Updated
Disclaimer: LINK has gotten destroyed in sats over the last week. This entire prediction relies on btc not dropping like a rock, so make sure to run a stop loss around 48 cents.
This is an update on my most previous post. I am limited to 3 indicators, and did not save the pitchfork from last time, so it is not perfectly set up (though it is roughly aligned).
I have 3 EMA's: 25d, 50d, 100d. As can be seen, they have been acting as support/resistance quite actively over the last few months for LINKUSD. There's also a distinguishable pattern: the price dumps to the 50d or 100d EMA, consolidates, and then sharply pumps to a higher price. This pattern agrees with my early March prediction that we would cross the line of best fit in mid April (shown by the arrow and large green ellipse).
The reasons why I think the price will bottom at 49 cents:
>This is the longest time above the 49 resistance since the bull run.
>We've witnessed continuous price rise action in the 35 cent to 49 cent range over the last 4 months.
>An S/R flip here would mean that 49 cents is finally conquered, which would make sense after the multiple attempts at doing so.
>Volume looks ready to explode (although this can be interpreted either way).
This setup looks probable. Let's hope for the best.
This setup is from my most previous post, linked below.
This is an update on my most previous post. I am limited to 3 indicators, and did not save the pitchfork from last time, so it is not perfectly set up (though it is roughly aligned).
I have 3 EMA's: 25d, 50d, 100d. As can be seen, they have been acting as support/resistance quite actively over the last few months for LINKUSD. There's also a distinguishable pattern: the price dumps to the 50d or 100d EMA, consolidates, and then sharply pumps to a higher price. This pattern agrees with my early March prediction that we would cross the line of best fit in mid April (shown by the arrow and large green ellipse).
The reasons why I think the price will bottom at 49 cents:
>This is the longest time above the 49 resistance since the bull run.
>We've witnessed continuous price rise action in the 35 cent to 49 cent range over the last 4 months.
>An S/R flip here would mean that 49 cents is finally conquered, which would make sense after the multiple attempts at doing so.
>Volume looks ready to explode (although this can be interpreted either way).
This setup looks probable. Let's hope for the best.
This setup is from my most previous post, linked below.
Note
50 day EMA broke, and stop loss triggered. Would still look to 100d EMA, but if that breaks as well, definitely bearish.Note
So it seems that the 100d EMA held like the other 2 two times it had dumped like this. I predicted the 50d EMA inaccurately because of the most recent low and I’m overly bullish. Regardless,, still looking for a bounce here.Note
Still looking for a hold here.Note
49 cents held. Bounce should happen as long as BTC permits it.
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