It is pretty evident that Chainlink has been in an ascending channel for its entire lifespan. So check out these interesting observations.
Taking a fib retracement from the ATH of June 29th, 2019 back to the low of December 7th, 2018 provides us with the next ATH at the 4.236 on August 17th, 2020 (156 days from the recent low).
If we simply use the ATH in between each bottom then the next ATH would be the last ATH lands on May 10th, 2021. If we draw a fib retracement from May 10th to the previous low on March 13th, 2020 we get a 4.236 high that correlates with that upper band of resistance at approximately $249.48 on December 23rd, 2021 (156 from the recent low).
Because of the similarity in the current price action I used a fractal from late April to early June of 2019 in order to represent the possible trajectory.
If we continue to add 32 days to the time between bottoms then the next bottom will be on December 28th, 2022.
It may all be bologna at the end of the day but, for me at least, is good food for thought.
Taking a fib retracement from the ATH of June 29th, 2019 back to the low of December 7th, 2018 provides us with the next ATH at the 4.236 on August 17th, 2020 (156 days from the recent low).
If we simply use the ATH in between each bottom then the next ATH would be the last ATH lands on May 10th, 2021. If we draw a fib retracement from May 10th to the previous low on March 13th, 2020 we get a 4.236 high that correlates with that upper band of resistance at approximately $249.48 on December 23rd, 2021 (156 from the recent low).
Because of the similarity in the current price action I used a fractal from late April to early June of 2019 in order to represent the possible trajectory.
If we continue to add 32 days to the time between bottoms then the next bottom will be on December 28th, 2022.
It may all be bologna at the end of the day but, for me at least, is good food for thought.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.