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Chainlinkusdt

LINK PennantIt would make sense to be forming a large pennant pattern after the run Chainlink has had in 2019. I expect it to go for a re-test of the upper trendline if we see some bullish price action from Bitcoin. The 2 red resistance lines are the major resistances I'm watching on this move up. I would expect some bigger consolidation after touching one of them. There is large downside risk as we could stay within the pennant fairly easily even with a 10+% move down. Keep that in mind and remember to set a stop if you are making an entry.
Long
by Dtradess
Chainlink Expected To Give Buying Opportunity For Upto 50% GainsAfter forming the Shark pattern in Sep 2019 the price action of Chainlink took a very powerful bullish divergence form the potential reversal zone of this bullish Shark and made more than 107% bullish Move Upto Nov 2019 the price action starting moving within a falling wedge which is very steep and at this time the price action is hitting the resistance of the wedge the long spike on 18 Dec show that the bears are very weak $1.73. The pricline also has hit the Bollinger bads’s lower band support and the Bollinger bands is expanding to pave the way for Chainlink’s priceline. Volume profile of complete falling wedge is showing less interest below $1.73. On 12hr chart all indicators are bullish and if we see on day chart the price action is at the support of Bollinger bands. Moving average convergence divergence (MACD) is giving bullish signals by turning weak bearish from strong bearish. Relative Strength Index (RSI) was oversold now turning bullish and Stochastic has also given bull cross from oversold zone. Where we should buy? The question is if the price action is hitting at the resistance then where we should buy? Coz there are chances that the price action again move down to hit the support again. The answer is that here we should wait for the price action to breakout the resistance and then buy coz after breakout the price action can take more bullish move atleast upto POC of volume profile which is at 2.21 and it can also hit the projection area of tail to support of wedge from 0.382 to 0.786 Fibonacci which is from $2.25 to $2.84 In this case our stop loss will be the resistance of this wedge coz once the priceline will breakout the resistance then the same resistance will be playing role of support for the price action. Regards, Atif Akbar (moon333)
Long
by moon333
Link/USDT - Rising Wedge BreakdownChainlink has broken down a rising wedge. The decreasing volume (on the bottom of the chart) is confirmation of the successful breakdown. Based on wave analysis, it is possible it may downtrend further. Shorts are not something I trade personally, so this idea is only for the benefit of my followers who do and for those considering adding to Link's technical analysis. => possible completion of sub waves 1 & 2 of the 0-a wave of its downwards correction with an oncoming sub wave 3, OR => completed a-b (or yet to complete a-b) of the corrective sequence (less likely in my opinion, taking retracement values into consideration - but not impossible). Currently hovering around the top of the Ichi cloud, it is not being very positive about continuing upwards. it would be interesting to watch its movements if and when it hits the strong Senkou Span B support line (marked black). Likely targets are marked on the chart should it continue to downtrend. Always use any idea in conjunction with your own technical analysis before trading. Happy trading and Vanakkam. :) What goes up must come down. _____________________________ There's only one person you need to follow when it comes to crypto. Papa Bear's Path of Least Resistance Our October Profits
Short
by PurpleCrypto
2
How Much Tighter Can We Get?I think it's better to look at LINK based on ranges rather than trenlines at least for the moment. The trend-lines that I see have a lot of false breaks from them. That's not to say it isn't holding those particular lines. It's just better to rely on these ranges than see it dip 2-3 cents below the line and shrink back up. What I mean by 'ranges' is the area between the constricting horizontal lines I've drawn on the chart. As you can see as time has gone on the price action is continuously constricting to particular ranges and not leaving them. Trend-lines are basically just a way of visualizing this. I certainly feel a break from this constriction is imminent. The question that remains always, up or down? No one knows for certain. Though we can use price action moving outside of these 'ranges' to give us an indication of further movements. Price also tends to move back and forth between the range consolidating before another leg up or down occurs. You can use these moments to time your market orders. You should also keep in mind the levels I'm looking at could be completely wrong in comparison to what the market sees. They could also be perfectly correct. Regardless you need to keep your money safe. Do not solely rely on any given analysis I publish dictate what you choose to do with it. As always I appreciate the time you've spent reading my thoughts! Drop me a like if you found this helpful or interesting.
COINBASE:LINKUSD
by Dtradess
3
Update 2 - A Weak Link In The Chain For The BullsQuick update, We aren't out of the woods yet but we're certainly looking better. We seemed to have completely avoid contact with the original H&S support line with a short term trend change, and now we're working our way back to test some upper resistance lines. I'll personally be watching breaks of these lines and how much follow through/volume we get. I really don't want to see a loss of supports as we make them on our way up. Weakness or below average volume this close to the H&S trend-line could be indicative of breaking it. Keep your money safe and have your stops set for worst cast scenario! Thank you for checking out my idea and drop me a like if you found it helpful.
by Dtradess
Update - A Weak LINK In The Chain For The BullsSo this chart started out with just my two white trend-lines, and after drawing them I realized that there is also an Inverted H&S along my resistance line. I seem to be finding these a lot lately and I'm kind of questioning their reliability. I think this is going to come down to which trend-line breaks first and confirms its H&S. If we break down it's possible $2.50 could save the day, but I personally don't feel another test of that area alone will hold us up. The RSI levels are all fairly neutral, but the bigger the time-frame the more room we have to fall, and that is why I think the H&S(not Inverted H&S) is more of a threat. If we move up I still feel a re-test and break of $2.88-89 is also key to moving even higher. I have personally been bullish during this consolidation, but the closer we get to $2.50 again the more concerned I become for that scenario. Though we can still very easily hold support and break the overhead resistance to head back towards $2.76-.79. We'll just have to wait and see. I'd recommend stops just under the resistance line or under $2.50 if you want to risk a little more for the potential pay.
by Dtradess
LINK long so LONG we hold major supportsI'm fairly new to TA so take this idea with a grain of salt. With that in mind these are the potential options I personally see playing out. Most of the information is on the chart. I think a buy in around $2.66-.68 with a stop right below $2.65 is great risk/reward. If it breaks $2.65 wait to see the test of $2.50 support and if we get a nice bounce do the same there. Thanks for checking out my idea! I would love to read your thoughts on it.
Long
by Dtradess
LINKUSD formed a bullish Shark | Upto 29% expectedPriceline of Chainlink / Tether US cryptocurrency has formed a bullish Shark and it is entered in potential reversal zone to hit the sell targets soon insha Allah. This PRZ area should be used as stop loss point in case of complete candle stick closes below this zone. Volume profile is showing less interest of traders here, but Stochastic is oversold and did not give bull cross and MACD is strong bearish so for secure trade we can wait for MACD to turn weak bearish or for stochastic to give bull cross then buy. I have used Fibonacci sequence to set the targets: Buy between: 1.5555 to 1.4583 Sell between: 1.6668 to 1.8874 Regards, Atif Akbar (moon333)
Long
by moon333