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Chainlink (LINK) WCA - Classic Rectangle PatternHello and thank you for taking the time to read my post. Today, we analyze the Chainlink (LINK) chart on the weekly scale, focusing on a classic price pattern called the "Rectangle Pattern." Classic Rectangle Pattern : The classic rectangle pattern is a chart pattern formed when the price of an asset moves between two parallel horizontal lines—representing support and resistance levels—over a period of time. In essence, it reflects a consolidation phase where the market is undecided about the direction of the trend. To confirm the validity of this pattern, you typically need a minimum of two touching points at both the support and resistance levels. However, more experienced traders prefer to see at least three touching points on each level, as it increases the reliability of the pattern. Remember, this is just a brief introduction to the technical aspects of the classic rectangle pattern. As you delve deeper into this topic, you'll discover more nuances and practical applications that can enhance your trading strategies. Additional Analysis : Chainlink serves as a perfect example of the classic rectangle pattern. We have a clear upper horizontal line at 9.475 and a lower horizontal line at 5.534, between which the price moves. The price has remained stable within this range for 357 days, equivalent to 11.737 months. This information is valuable because the longer an asset stays within a range, the more volatile the subsequent breakout will be. Additionally, we see several touch points marked in orange, further validating the pattern. A blue diagonal resistance line demonstrates the general trend, which is currently directed downwards. The price is currently below the 200 EMA, which is another indication to watch rather than actively look for long positions. This suggests a cautious approach for traders, as the market is still showing signs of weakness. Once we have a breakout from this rectangle, it could be swift and accompanied by significant volatility. As always, we cannot know when the price will break out of this nicely defined zone, but we have a good idea for the future and will be less surprised when we see a breakout, no matter in what direction. Traders should closely monitor the support and resistance levels, as well as the general trend, to be better prepared for any potential price action. Conclusion : The Chainlink (LINK) weekly chart showcases a classic Rectangle Pattern, reflecting a consolidation phase in the market. By closely monitoring the support and resistance levels, as well as the general trend, traders can be better prepared for any potential price action in the future. As always, it's essential to consider risk management and proper position sizing when trading based on chart patterns. Please note that this analysis is not financial advice. Always do your own due diligence when investing or trading. If you found this analysis helpful, please like, share, and follow for more updates. Happy trading! Best regards, Karim Subhieh
by KarimSubhieh
LINK.Usdt (Y23.P2.Video1). Macro outlook, more accumulation?Hi Traders\Investors, Note: I made a mistake thinking for some reason its called MATIC but its CHAINLINK so the logo on the video is incorrect. LINK is currently in a range that suggests its accumulation and the longer it accumulates, the bigger the breakout it will be. I give my perspective for 2 scenarios, both are dependant on what BTC does in the coming weeks. I show or explain what I see and how I give it measure for those key levels. The rest is up to you. Please give me a like and share, Regards, S.SAri weekly indicators show downward pressure
Long
by ssari
1
LINK: LAST Month to ACCUMULATE💰BINANCE:LINKUSDT Hi Traders, Investors and Speculators of the Charts 📈📉 Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. LINKUSDT has been in a typical Wyckoff Method consolidation phase. Looking at previous fractals, wee see that Chainlink often goes parabolic during the months of June / July. This is right around the corner! Even should it not happen that way this time around, LINKUSDT has establishes a clear bottom and will most likely only go upwards from here. To confirm this bias, we take a look at the Technical Indicator CryptoCheck START v3.5 and see a buy signal flashing on the weekly (which is bullish on such a high timeframe) : Since you're here ! Check out this idea on BTCUSDT : _______________________ 📢 Show us some LOVE 🧡 Follow for daily updates and trade ideas on Crypto , Stocks , Forex and Commodities 💎 We thank you for your support ! CryptoCheck
Long
by CryptoCheck-
32
✴️ ChainLink Does 333% In 3 Steps... Altcoins Cycle Explained!#1 | The first step is the correction that comes after bullish cycle/wave/All-Time High. #2 | The second step is the consolidation phase. Can be sideways, can be a zig-zag/mixed, can be down or up... Still accumulation/consolidation. #3 | The third step is the recovery that is already starting to take place. ChainLink #1,#2,#3 will lead to 300%+. I would normally put the stop-loss, support levels and such in the chart but seeing Bitcoin, Cardano, Ethereum Classic, Litecoin and the rest already full time green, we know that ChainLink is a monster and won't be left behind. We see its future as also going green. Once the bigger altcoins are done, it will be the turn of the smaller ones. First a few "random" ones start moving, it varies in every cycle. Then it goes with the biggest players, the king Bitcoin and the top Altcoins. Then the mid-sized ones... And finally the smaller ones. Some altcoins have cycles that last 4 years instead of two, be aware... You can be holding some of those and they can fail to take off until several years later. It is good to go with what is working, what is hot, what has been shown to be reputable, with a good team behind it, real projects, etc. But then again, we trade based on the charts. This chart says UP! Namaste.
Long
by AlanSantana
7
LINK - Strong Like A Castle 🏰Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. LINK has been stuck inside a big range for a couple of months now. At least it hasn't melted like many altcoins during the bear run. 🏹 For the bulls to take over long-term , we need a break above the entire range / above 9.5 Meanwhile, since we are approaching the lower bound of the range, we will be looking for short-term buy setups. 📉 From a medium-term perspective, LINK is overall bullish trading inside the flat rising channel in red. Moreover, the orange zone 6.5 is a strong support. 🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the orange support and lower red trendline. (acting as non-horizontal support) As per my trading style: As LINK approaches the lower purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
8
$LINK Trend Change In ProgressLINK has been in a compressed sideways range ever since June 2022- nearly 10 months. Many other top 10 and top 20 tokens have made significant returns after Bitcoin's victory bounce back in January, but LINK has been forced to stay below the 0.236 Fibonacci line (at $9.126). But one thing our indicator, the "TBO", is telling us is that a trend change has been in the works since the week of January 23, 2023, indicated by the green X. "TBO" Cross Up symbols on longer time frames give us an advanced alert that the trend could be making a sudden shift in the next several candles. These shifts don't happen right away, but as you can see from the "TBO" Cross Down (red X) that happened back in October 2021, the price eventually turned bearish. One other important detail to note about the "TBO" Crosses is that these symbols change the color of the "TBO" Cloud, introducing a gray color. This gray color is an indication that the trend is beginning to change directions. Once the price of LINK closes above the 0.236 Fibonacci retracement, we expect the price to turn bullish and start hitting the higher Fib targets. Until that happens, we are mildly bullish on LINK. *Note: the "TBO" is enclosed in quotations because an existing ticker (TBO) could lead to some confusion.
Long
by thebettertraders
Quick look at LINKHere's a quick look at the LINK daily chart. As we can see, the price is trying to hold above the resistance zone, and if the price manages to sustain its position above the resistance zone, then a move to the red trendline is likely to happen! Therefore it is recommended to monitor the resistance zone in case it does sustain its position above it! ------------------------------------------- Recent Altcoin trades: ARB / USDT: 30% profit! ROSE / USDT: 5% profit! ------------------------------------------- About our trades: Our success rate is notably high, with 10 out of 11 posted trade setups achieving at least their first target upon a breakout price breach (The most on TW!) . Our TradingView page serves as a testament to this claim, and we invite you to verify it! ------------------------------------------- If you like the content, then make sure to comment and like the post :D Follow me for daily profitable trading setups. BTC dictates the market. If BTC falls, then Alts will drop as well. Trade safe!
by MBM_Crypto
4
LINKUSDTLINKUSDT Thoughts The price has been moving in the accumulation zone for almost a year. The exit from such zones is very often given an upward impulse, so that a major player can reset his positions. Now the price has approached the local resistance zone inside the consolidation. If BTC continues its upward movement, then we will see both a breakout and the possibility of exiting upward from the consolidation. For ease local targets were marked on the chart. ☑️Targets: $11.12 - $13.08 - $14.45 However, we focus on the situation. Always look at the market globally and adjust to the general mood. If you like the idea, don't forget to subscribe and rate like👍
by Andrey_Crypto
1
SasanSeifi 💁‍♂️LINKUSDT /LONG VIEW 👉3D ⏭$8.50/$9.50 ⬆ Hello everyone ✌ As you can see, in the long-term of 3 days, the overall trend is fluctuating between $5.34 and $9.50.Currently, the price is trading in the range of 7.50 and it is above the EMA 60 range. . Considering the behavior of the candles and the breaking of the dynamic resistance, we can expect that the price will continue to grow up to the range of $9.50 if it stabilizes. Possible trends are indicated on the chart. Keep in mind that for a positive trend scenario, it is very important to stabilize the price above the $8 range. The important support range is $7/ $6.35. ❎ (DYOR)...⚠⚜ What do you think about this analysis? I will be glad to know your idea 🙂✌ IF you like my analysis please LIKE and comment 🙏✌
Long
by SasanSeifi
✳️ Chainlink vs Bitcoin Long-Term Higher Low | Trade or Learn?You need multiple signals to reach a conclusion... Should I just go straight to the numbers, the chart with its potential or explain the signals? Because one way is like teaching/learning, the other one is like showing an opportunity/trading. 12-April ends in a Doji with a perfect (-9), that's the TD Sequential indicator: This is followed by three green candles, rising volume, bullish divergence with the RSI as the RSI moves above 50. New low yet above 50 that's a very strong signal. Also, we have multiple bullish signals and that's all we need. Finally, the long-term higher low on the main chart. That's it! LINKBTC goes bullish. Enjoy your weekend. Namaste.
Long
by AlanSantana
History Repeats Itself with LINK?I have two different trading channels highlighted on the chart. The first predates the post-corona bull market. The second shows a long period of consolidation on the Chainlink weekly chart. The first channel lasted for a year before LINK exploded to ATH over $50. The second channel marks a year in May 2023. Chainlink has completed a full market cycle and if this period of consolidation matches the last one, we'll see some explosive moves upward from Chainlink sometime in the next six weeks. This upward move should find resistance at the 200MA, but that will also come about 2x from the current price point. Enjoy, NFA.
BINANCE:LINKUSDLong
by ChartswithChip