$LINK: It's only a matter of time. Patience is key.
LINK has been printing this massive symmetrical triangle pattern for a while now. Frustrating for new holders who want immediate pumps. Pretty uneventful for anyone holding this long term. As we can see the median line of the much larger pitchfork tool has been acting as the support for this triangle pattern for a couple weeks. We fell below and tested a secondary lower trend line created by the larger wicks from earlier... but now we're fighting back above the median. I would expect this pattern to play out. As per usual with this triangle pattern? It will either break upwards and immediately be rejected in order to "retest" the previous upper trend line, OR it will break downwards to hunt the stops and overleveraged trades before going back through and up above the pattern. Fundamentally:
LINK is incredibly bullish still. Obviously the price is being suppressed by massive sell pressure from the Chainlink team who, as stated clearly in the white paper, are selling the massive amount of LINK that they have in order to fund development of the protocol. This is good. These guys don't care about short term price, they care about building the strongest most decentralized oracle network on the planet. LINK is positioning itself to completely dominate in the long term. We're also not even dealing with the staking fomo yet. That will grossly drive price much higher. For price targets you can look at my previous link charts. This is just focusing on the sym triangle pattern and the inevitable breakout.
PS: Visa just announced that it'll be using ETH... as a settlement layer for crypto... connect the dots if you can't figure it out.
LINK is the key to it all.
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