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Chainlinkprediction

LINK → Chainlink Potential Triple Top! Short Scalp Opportunity?Chainlink has been attempting to break the $16-$17 range since November 11th and has failed there times. After the crypto sell-off on January 3rd, Chainlink made one more attempt but fell short at $15.75. With that lower high, is it time to short? How do we trade this? 🤔 We have a potential triple top, a doji (one bar trading range) just under the Resistance Zone which is a potential lower high, and a crypto market that's burning hot and likely nearing a strong pullback. To confirm a short entry, we need a strong bear bar closing on or near its low below the Daily 30EMA. Stop loss should be just above the previous high. 💡 Trade Idea 💡 Short Entry: $14.20 🟥 Stop Loss: $17.90 ✅ Take Profit: $10.50 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Potential Triple Top Reversal. 2. Doji candle just below Resistance Zone. 3. Look for Bear Candle Confirmation Below 30EMA. 4. Use Low Position Size, 1:1 Risk/Reward Scalp. 5. RSI at 51.00 and above the Moving Average. Indecision. 💰 Trading Tip 💰 There is over a 60% chance of a measured move after the breakout of a major resistance, normally, a trading range. That means the distance from the trading range resistance to the top of the breakout will happen again above the top of the breakout. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
4
LINK → Chainlink Dropping from Double Top? Going Down to $10?LINK completed a measured move and attempted to break past the Resistance Zone twice without success. Does that mean we have justification to short? How do we trade this? 🤔 A low probability, low risk, high reward trade (a reversal) was reasonable after the Daily candle closed on December 15th. That was a strong bear bar closing on its low after the double top, now we're stuck under the 30EMA and having a hard time getting back up. You can also reasonably short here at a 1:1 Risk Reward Ratio. Your position size should be smaller since we're further away from the justified stop loss position above the Resistance Zone. Shorting to the Daily 200EMA support is a solid target but remember, this is technically a counter-trend trade, so we need to watch every candle for a sign that we're bouncing back toward the upside. 💡 Trade Ideas 💡 Short Entry: $14.150 🟥 Stop Loss: $17.650 ✅ Take Profit: $10.650 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Measured Move Complete, Potential Double-Top Reversal. 2. Price fell from Resistance Zone. Reasonable to Short Scalp. 3. Teacup and Handle Pattern did not play out. 4. Far away from Reasonable Protective Stop, Small Position. 5. RSI at 45.00 and below the Moving Average. Bias to Short. 💰 Trading Tip 💰 Your position size should be proportional to your risk and relative to your maximum allowed loss on a single trade. Example: A $100 trading account using the 1% rule should lose no more than $1 on a single trade. That means if your stop loss is further away, your position size needs to be sized so that your loss equals no more than $1. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Short
by TraderEngineering
6
LINK → Chainlink Teacup and Handle Bull Pattern!? Let's Prepare!Chainlink is knocking on the door of the Resistance Zone and forming what appears to be a teacup and handle bull pattern! Do we long now? What should our signal to enter a trade be? How do we trade this? 🤔 Link completed its measured move up to the resistance zone, pulled back, and made another attempt to breach the $16.30 price but failed. If the teacup and handle pattern is truly playing out, we should be witnessing another weaker pullback to somewhere around the $14.30 price area (30EMA). If the price bounces at the 14.30 area, we may in fact be looking at a breakout of the Resistance Zone. So does that mean we long at the 30EMA? No. Because the probability of profit longing at a resistance zone is low. It's best to wait for the price to break the Resistance Zone, test it for support then long that support as depicted in my analysis. Until then, let's wait on the sidelines and see how this plays out! 💡 Trade Idea 💡 Long Entry: $18.30 🟥 Stop Loss: $16.10 ✅ Take Profit: $24.90 ⚖️ Risk/Reward Ratio: 1:3 🔑 Key Takeaways 🔑 1. Measured Move Complete. 2. Price near Resistance Zone. Wait for More Price Action. 3. Teacup and Handle Pattern Playing out? 4. Long Setup, Wait for Bounce at 30EMA or Break of Resistance. 5. RSI at 60.00 and above the Moving Average. Bias to Long. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and comment if you found this analysis useful!
Long
by TraderEngineering
LINK → Moon or Doom? This Analysis Provides Some Clear Answers.Chainlink slammed into the Resistance Zone after a beautifully executed measured move up. We're now in a minor pullback hovering just below resistance. Should we enter a trade here? How do we trade this? This is not the right moment to enter a trade. The price action screams bullish; A measured move up, showing support on the 30EMA, RSI around 50.00 with plenty of room to go up. But we're right at the resistance zone and without a clear signal that we're going to break out, it's too risky to long. Likewise, we don't have a sell signal or any price action indicating that we're going to reverse. Bitcoin as a leading indicator is struggling to break its Weekly Resistance which could impact Chainlink's price action. Until we have a clear signal either way, we should remain on the sidelines. Here are a couple of potential trade ideas if the price breaks in either direction. Trade Ideas Long Entry : $19.12 Stop Loss: $16.92 Take Profit: $23.53 Risk/Reward Ratio: 1:2 Short Entry : $12.90 Stop Loss: $15.10 Take Profit: $8.49 Risk/Reward Ratio: 1:2 Key Takeaways 1. Measured Move Complete. Pullback in Progress. 2. Price near Resistance Zone. Wait for More Price Action. 3. Short Setup, Wait for Bear Signal Bar and Confirmation. 4. Long Setup, Wait for Break of Resistance Zone. 5. RSI near 58.00 and below Moving Average. Bias to Short. You are solely responsible for your trades, trade at your own risk! If you found this analysis helpful, click the Boost button and let us know what you think in the comment section below!
by TraderEngineering
LINK Weekly Analysis - Are we about to Reverse to the Downside?Chainlink had a fantastic breakout of the Weekly 200EMA closing two weekly candles above it. We're about to close a third bullish weekly candle in a row, so should we long at this level? Not so fast! As a trend continues your probability of profit increases in that direction, but that's in exchange for greater risk because your stop loss must be placed under the bull bars. Eventually, that formula is no longer sustainable because more traders stop entering as the risk grows and the trend reverses. In this case, a tight stop placement would be at $7.00, and a riskier but still reasonable stop placement would be at $9.00 just below the 200EMA. The current price is almost at $16.00, longing here would give you at best a 2:1 Risk/Reward Ratio, which is a fine scalp but given the following key points, I would wait. Key Points 1. Strong bounce off of Weekly Support led to a bull breakout! 2. Price is in contact with a Weekly Resistance Zone 3. Bitcoin as a leading indicator, has not confirmed its breakout of Weekly Resistance 4. RSI is overbought. Wait for a pullback to enter Long. I believe we need more price action before we can long, but I would also not short until we see a reversal bar closing on or near its low. You are solely responsible for your trades, trade at your own risk! Let us know what you think in the comment section below!
by TraderEngineering
LINK Chainlink: Patterns In MotionHello friends, today you can review the technical analysis idea on a 4H linear scale chart for Chainlink (LINKUSD), a cryptocurrency. The chart is self-explanatory. This is a short-term chart with two bullish patterns (Descending Channel and Double Bottom Pattern) showing potential for upside. Though bullish, volume has dropped and Chainlink may be dependent on where Bitcoin and Ethereum are headed as those two cryptos are largest in the space. Additionally Shown: Ichimoku Clouds, RSI (Relative Strength Index), Stochastic RSI (Stoch RSI), Fibonacci Retracement, Support and Resistance Trendline, and Volume. If you enjoy my ideas, feel free to like it and drop in a comment. I love reading your comments below. As the year is coming to an end and holidays are almost here. I want to wish my friends Happy Holidays and ready for an exciting 2022! What are your thoughts for the coming year? Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis . Don't trade based on my advice. Do your own research! #cryptopickk
BITFINEX:LINKUSD
by MillionaireEconomics
9
Chainlink for the winSentiment went from ATH at 20 doll to in the dumps...overall lots of stuff happening right now, ie US elections and coronavirus. Countries are starting to tighten travel restrictions and some are outright shutting down. Chainlink certainly fell victim to a euphoric ride to the top by the crypto twitter bulls. The buying power fell however was supported heavily from 8-12 dolla. The chart looks to be showing more strength...the buyers are stepping in and we are holding a beautiful long term diagonal trend line. Swing highs are higher and swing lows are lower. Even if this chart doesn't follow the yellow line, if we hold that diagonal trend line then the march to the money will be glorious (albeit slower). Either way, more and more people are adopting chainlink, twitter is getting excited about it again and we have lots of reasons for volatility. HODL for the glory. The Content is for informational and entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. This is not financial advice nor am I a financial adviser. :)
BINANCE:LINKUSDLong
by RozeRoze
1
Chainlink Price Prediction: LINK Soars 30%, Bulls Aim Higher Chainlink decouples from Bitcoin and other major currencies, rallying to highs above $10. LINK/USD has the potential to keep the uptrend going, a descending wedge pattern breakout is in the offing. Chainlink rallied massively in the last 24 hours, reminding investors in the cryptocurrency market that we are still in a bullish market. The last three weeks have not been particularly rewarding for not only LINK but also other digital assets. For instance, Chainlink continued with the downtrend started in August after trading all-time highs of $20. Initially, support was established at $14, and for some time, it kept bears in check while allowing buyers to focus on higher levels. A minor recovery just before September revisited the resistance at $18. However, declines ushered in the new month, leading to losses under $10. Chainlink explored the rabbit hole towards $7. Over the last 24 hours, the smart decentralized oracle live price feed token resumed the uptrend. LINK climbed above key levels including $10. Unfortunately, it has been an uphill task breaking the resistance at the 100 Exponential Moving Average (EMA) in the daily range. LINK/USD has retreated to $9.8 amid attempts from the bullish camp to pull above the $10 key level. Intriguingly, Chainlink still has the potential to continue with the uptrend. The losses incurred in the past few weeks have narrowed into a descending wedge. LINK/USD is very close to breaking the upper trendline resistance. The much-anticipated move depends on the ability of the bulls to disperse the seller congestion at the 100-day EMA. Following the breakout, more resistance should be expected at the 50-day EMA ($11.45) as well as $14. LINK Intraday Levels Spot rate: $9.80 Relative change: -0.07 Percentage change: -0.53 Trend: Short term bearish bias Volatility: Low
COINBASE:LINKUSDLong
by CoinGape
2