Chainlinkusd
LINKUSDT (ChainLink), short to 3.666, 3.617.Hi, friends. Today i want to analyze ChainLink. Picture simple with bitcoin situation. We have big volume of newly open positions above 3.83 and involved bulls with closing after. Targets for bears 3.666, 3.617.
Levels thanks to X-Lines indicator. Volume analyze with X-Volume script.
Waiting your likes!
Chainlink: Bearish Pattern and Divergence 4H (Apr. 27)X FORCE GLOBAL ANALYSIS:
In this analysis, we explore the extremely bearish technicals demonstrated in Chainlink's (LINK) short term charts.
Technical Analysis
- The first thing we can spot is a bearish divergence, in which prices create higher highs and indicators create lower highs
- The Relative Strength Index (RSI) shows a clear lack in strength with lower highs
- The Moving Average Convergence Divergence (MACD) also shows lack of momentum with lower highs
- We can see a textbook ascending wedge pattern, which is interpreted as a bearish reversal pattern in an uptrend
- Counting Elliott Triangle Waves (ABCDE), we can see that wave E has completed its formation, and we can expect a breakdown
- Bollinger bands are narrowing, which is a sign of a potentially big move.
What We Believe
Based on the bearish technicals suggested, we believe that Chainlink's bearish probabilities are extremely high for the immediate term.
Trade Safe.
LINKUSD: Scalp LongCaught a little short from $3.82, thinking about long now. New range low is around $3.5, set bids there.
Link is bullish, further downside is possible but highly unlikly (at least with the current BTC PA)
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
LINKUSD: POP Strategy is up 60%+ and still holdingI'd like to note that my Pop strategy is up 60%+ to date and 120%+ year to date.
Drawdown is just ~4%! But the number of trades in 4 months is relatively small too.
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
LINKUSD: Scalp shorting bullish trend It's on resistance and so on but this steady growth is so bullish that I want just to smash GREEN BUTTON to join linkmarines army hehe
Ok, don't be short here, but I'd like to try to catch a wick into $3.8 - $3.9 zone and open scalp short.
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
LINKUSD: Approaching resistance [again]Duh, was going to buy it yesterday (as I described in my idea) but I was aiming for $2.9-$2.8 and price missed my bids = [
What we see on the chart, price still moving in channel $3.4 - $3 (12%), good range for scalps.
But I'm just observing now, honestly I'd be better short $3.8 (or $3.6 at least) now than 3.4. I think if link will close daily above $3.5 if could try $3.8 with a big chance.
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
LINKUSD: Long Support ~$3 LINKUSD is testing support for a second time, I think it looks strong in comparison with many alts overall. Thus support should hold a second time even if BTC fails to $6400 (it looks weak now)
I plan to long it a little lower around $2.9 - 2.8 because of wicks (to avoid stop hunt).
Hit the "LIKE" button and follow to support, thank you.
Information is just for educational purposes, never financial advice. Always do your own research.
Price-Volume & Price-RSI DivergenceThere's an incoming price reversal, as the rsi, bollinger bands and volume suggest that the trend is coming to an end. A clear Price-Volume & Price-RSI Divergence has emerged on the 1H & 4H time frames. In addition,the RSI is extremely overbought on declining volume. Looking to re-enter on a price decline into previous support-resistance (2.41 or 2.61), however, the lower the better.
LINKUSD: Trying to pass $3.4 resistanceLINK respects the range well, bounced from $3 as expected and test $3.4 one more time, but without success. And it make sense to expect it to test the range bottom at $3.
I'm here more bearish (only short term) than bullish. But if BTC will break $7000 Link definitely will follow.
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Information is just for educational purposes, never financial advice. Always do your own research.
LINK (Y20.P2.E6).Macro.Ranging BottomHi All,
At times LINK has been strong during the year but when it drops, it capitulated more than most.
Disappointing it was. When it rallies it rallies well.
My perception is that, like BTC and if you look at many of the ALTS, have the similar ranging price action and many ALTs are doing better than LINK, eg, ADA while BTC moves sideways.
Observations
> RSI trend broken on the daily
> volume dropping
> Bottom fractal as per previous times, hence the bottom was and will be tested at least x2 times, based on the RSI bottom
> 1 hrly chart, bear flag formation, momentum is on the down side
> Daily chart breaks trend line for reversal (middle chart)
> Daily 10\21 ema ribbon acting resistance
Thoughts:
I go with the trend and hence its more likely that we have ABC move, where C goes to the 1.8 to 1.88 range.
There is also a bullish scenario, just like BTC where it gets momentum and regains back to the support level of recent and goes up. But I see this less likely.
For now, I see a bear flag in the lower time frames and then a drop towards $1.8
Regards,
S.Sari
Chainlink bullish momentum - $7 USD soon...I don't usually post on Trading view so here's a little intro to myself. If you've been following me on Twitter @fintechfin you would know I've been holding a long term position in Chainlink - buying from 0.17c to $1.20. I plan to divest a majority of my capital around 2022 - 2023 as I believe this is when smart contracts will begin to be implemented within mainstream technology, of which Chainlink plays a fundamental role within. In the meantime, i'm looking forward to sharing some trading ideas with you all along the way!
So...I'll get into my chart analysis.YES, I do think it's possible to see Chainlink around $7 by the end of March. And even further anticipating the next impulse wave to come. This is for a few reasons, of which I will mention three of the most notable:
1. Chainlink is too fundamentally bullish to double top at $4.50 - 5. Chainlink is arguably one of the most adopted blockchain technologies by mega-corporations in the ecosystem (Ethereum a close second) with the likes of SWIFT, Oracle, Google, EEA, Microsoft and partners of IC3 including IBM, Intel, Cisco JP Morgan - Despite having only 1/20th of the market cap! Note: Most of these partners are in POC stage of development.
2. Volume is almost half of what it was last time LINK was sitting at 4.50, I anticipate a ATH in trading volume as-well as price.
3. According to Elliott Waves Theory, Chainlink is in its second wave approaching its third after a possible pullback. If we see a pullback around this region of the fibs I can see $7 as a likely possibility. In the macro trend of Elliott waves theory we also seem to be in the second wave. After $7 I can see a possible correction wave taking place which will leave us bearish until Q3 2020 when we see staking go live on Chainlink mainnet. Note: The date for Chainlink mainnet is pure speculation from watching the Chainlink developer pivotal tracker - link here: www.pivotaltracker.com
Why $7? Fibonacci, thats why.
Big love to you all, we're going to make it. My linky stays super stinky $1000 EOY lol
DEFINITELY NOT FINANCIAL ADVICE - I MAY OR MAY NOT ACTUALLY HOLD CHAINLINK TOKENS
Chainlink Formed A Big Bearish BAT | Bear Move Can Be ExpectedHi fox hope you are well. Chainlink is one of the coins that I love to trade because this coin always gives very good trading opportunities and forms different harmonic and chart patterns and have very good volatility which makes it favorite among the traders community and especially for me.
Bullish Move Upto 211%:
On weekly chart after forming a double bottom the Link has produced more than 211% and this rally was started since December 2019 up to the current month even though the coin has formed a double bottom and everyone knows that after the double bottom pattern there are strong chances that the link can make higher than the previous high but there are some signals appeared showing that this asset can have a pull back.
A Strong Resistance Is Found:
As we can see that Link has found a strong resistance at $4.58. In June 2019 the Chainlink reached at this level but could not breakout this resistance and moved down then after formation of double bottom currently it has again reached at this level and on weekly chart we can see that the priceline has hit three times at this level but even after three attempts the price action of Link is not able to break out this resistance level. Now we have four touches on weekly chart at this level in total from June 2019 up till now.
A Parallel Channel:
On long term weekly chart the Chainlink has formed a parallel channel with the support at $1.54 and the resistance at $4.58. If we place the volume profile on the complete priceline moving between this channel then we can observe that the trader’s interest is very low above $3.22 and also very low at the support of the channel. And the POC of volume profile is at $2.88 which is a positive sign because if the price action drops down from here then we have a support level $2.88 this is the resistance which price action faced to cross up from Oct 2019 to Jan 2020 and also the POC of this volume profile at the same level. And if we place the Fibonacci retracement tool on the complete price action of this channel then it can be easily seen that the POC of the volume profile is at the golden ratio of 0.618 Fibonacci level, this retracement level is favorite for traders because they expect a bullish reversal from this level.
And POC of volume profile works like centre of gravity and always calls the price action towards itself like if we see the drop of Chainlink from June 2019 up to September 2019 then we can observe that the priceline moved up towards POC of volume profile and moved down again and then moved up and broke out the POC level of volume profile. This happened because the POC of volume profile pulls the price line towards itself and at the same time it also works as a resistance or support therefore if there will be any drop happened this time then we can expect that the POC of this volume profile will work as a strong support. This is the reason why I am not expecting that in case of any drop the priceaction will hit the support of the parallel channel at $1.54.
Big Bearish BAT Pattern Has Been Formed:
On the same long term weekly chart it can be easily examined that Chainlink has formed a complete bearish BAT pattern. The initial leg was started on 24th of June when first time the price action found the resistance at $4.58. Then price action of chainlink started moving down and completed the initial X to A leg on 23rd September 2019 then from this level the price action retraced up to 0.50 Fibonacci level and after completing A to B leg it is projected between 0.382 to 0.886 Fibonacci projection of A to B leg. And now we can see that the final leg which is C to D leg is retraced between 0.786 up to 0. 886 Fibonacci level even though priceline has hit the spikes beyond the resistance level of 4.58 dollars but so far no candlestick has been closed above the potential pullback zone of this bearish BAT` pattern.
A Small Bearish BAT Pattern On 12 Hour Chart:
Now I am taking you to the 12 hour short term time period chart and here the price action of Chainlink has formed another bearish BAT pattern within the BAT pattern of weekly chart. And after completing this pattern the priceline is entered in the potential reversal zone and from this point we can expect first pullback. But the pull back which will be started on this chart will take little bit long time to be reflected on the long term weekly chart.
How We Can Confirm The Pull Back On Long Term Chart:
Now the question is that how we can confirm that the bearish move is getting started on long term weekly chart. For that there are several indicators we can use to check the bearish pullback. And you can use your own set of indicators to determine this. At this point the indicators I am using to confirm the drop are three. First the relative strength index (RSI). 2ND indicator is Stochastic and 3rd indicator is moving average convergence divergence (MACD). Even though all indicators are strong bullish so far but once the indicators will be started turning bearish and we will find the price action in the potential reversal zone of this bearish BAT pattern then the drop can be confirmed. At this time the RSI is already in oversold zone the stochastic is in bull cross and MACD is strong bullish, now here we can see two things if the stochastic will give us bear cross and moving average convergence divergence will be turned bearish then these two signals can be used as initial indicators to confirm the bearish move.
Should I Buy If The Drop Is Expected?
If you are already enjoying the bullish ride of Chainlink then you can follow the above guidelines to take exit in case of drop. But if you are a new trader who wants to buy the chainlink then I would suggest you a bit aggressive strategy to buy. As we have seen above that the priceline has found a strong resistance at $4.58 since June 2019 therefore first we need to observe and wait that the price action should break out this resistance level and after breaking out from this resistance level we can buy enjoy the next bullish rally.
Further I will post more updates on Chainlink with the developments.
Bitcoin Wedge Update, Chainlnk, Ethereum, TezosIn this update I discuss the recent price change on the bitcoin chart, so far confirming the action being contained in the wedge which points toward the date of the bitcoin block reward halving.
I go over the previous 2016 halving and the price jump in the weeks prior, and try to use it as a lense to help understand what may happen in the coming months.
Additionally, I go over my personal alt-coin long positions, their to-date gains since I entered the market, and what may come of the price action soon.
Please feel free to give me your opinions, as they are always welcome. Happy trading, happy hodling.
PS: This is not financial advice, these are my opinions and mine alone. Good traders always set stop losses, and never risk more than they can afford to lose.
-Trey
LINKUSD: Ranging LINKUSD is ranging between $4.8 - $4.55.
There're significant amount of asks in upper zone from $4.7, but not too much bids near $4.55.
I can assume that if BTC will go below $9000 - link will dump to $4.5 - 4.4 as well.
I'm trading this range right now, but carefully, because as you can see each next pullback is weaker and support/resistance were tested several times.
Information is just for educational purposes, never financial advice. Always do your own research.