Long

Chainlink (LINK) is completing multiple / nested BULL patterns

Updated

This is my first "idea" but i wanted to share it.

It has already been pointed out by niko1923 that the 1H chart is completing a cup & handle pattern now but it's more than that. It is actually nested within a VERY BULLISH inverse head & shoulder pattern in the 1W chart.

The 1W chart for LINK/USD is comleting an inverse head & shoulders that started back in January 2022. Furthermore, the right shoulder is also an inverse head and shoulders pattern.
The inverse head & shoulder indicator (on the larger pattern) is calling out a $31 target.
https://www.tradingview.com/x/QWKwnJiJ/

so we have a cup & handle nested within an inverse head & shoulders, nested within another inverse head & shoulders... i would say LINK is a buy right now :)

"This is not financial advise"

Note

The short-term target on the 1H cup & handle is about $19

Note

.... so the more i look at that long term inverse head & shoulders, it also looks like it could be a dirty cup & handle. If you look at it like that, then the $31 target could be increased to around $51 but that might be crazy talk.
"NOT FINANCIAL ADVISE" :)

Note

Update for the 1H cup & handle target:
Calculating from the $17.7 handle breakout, the new target is $22.8.

The 1W pattern target is still $31-$52 depending on whether it's an inverse head & shoulders or a cup & handle.

BossHog1

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