Link to do in months what took Bitcoin YearsThis is basically become the Crypto Fractal in my mind for most crpytos (Except XRP of course). As a fractal we should expect a lot of similarities with high correlation but expecting a 1:1 repeat is sheer foolishness.
Major Dissimilarities first:
Link is moving faster than bitcoin
Link spent less relative time on consolidation (no prolonged descending triangle)
When Bitcoin ended consolidation it was more impulsive than link
Bitcoin had a lower low on the Eve while Link had a lower low on the Adam
Bitcoins Eve was rounder than links
Major Similarities and Predictions
The blue trendline is a Signiant source of support in the relative long run (months for link, years for btc) and a loss of support lead to the Adam bottom. PREDICTION : When Link breaches it again it will be an area of consolidation before continuing the parabolic move upwards.
The orange horizontal line will need to be breached on Link before the uptrend can proceed with gusto. A breach and retest of the orange trendline on Bitcoin heraled the bull run. PREDICTION : link will likewise retest the orange trendline as support before it goes parabolic
The Black Trendline was predominately resistance on bitcoin before it flipped to support. That flip to support was a major bullish signal. PREDICTION : Likewise with Link except what took 3 months might take 3 weeks.
Further that, it appears that linkbtc is against the weekly Bollinger band lower limit and so far in the whole chart history that has been an advantageous position to buy link over bitcoin. Between here and there it might go up and down but the over all trend is upward for link/btc. We might double test the lower limit of the weekly BB, we might struggle to find support on the baseline, but it it time to accumulate link.
Conclusion
In the short term there a lots of longs to be taken in bitcoins favor, but for the next cycle link appears to be the bet for easier gains to the upside than bitcoin.
