LINKBTC
Chainlike trading IdeaHello Traders,
Chainlink has broken out an important downtrend line and is accumulating above to try higher levels.
We recommend opening a long position as soon as it breaks this accumulation with its stops below the last bottom.
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Comparaison between second Bitcoin ATH and ChainLink ATHWe already seen $LINK reaching his previous ATH, here is what happened then ! The only good reference.
1. First, Bypassed prev ATH by ~6%
2. Followed with a dump of ~27%
From the new ATH we got a dump of ~33%
Nothing says it can happen also with $BTC, but a pullback of 30-40% is healthy for bitcoin.
Welcome to the channelPlease feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.
Also make sure to leave a like as it helps me out a lot!
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- LINK forming a clear channel
- 50MA curling away from 200MA
- Spike in volume
Watch for a breakout like we had in August or you could also possibly buy in on a retracement towards the lower part of the channel although I don't deem that very likely at this point in the market.
$LINK ready for the next cycle? It looks like $LINK has reached the point where at all times previous in its lifetime it has subsequently risen to new ATHs - on this 3 Day chart, resting on the 89 MA. I am speculating that another ascending triangle will form, which would mean a retest of 150k sats over the next month or two.
A beautiful chart, hasn't let me down so far. Please note that the triangle & yellow arrows covering the summer of 2020 were drawn BEFORE the run-up, in late March as it was resting on the bow of the triangle around 33k sats . I was shocked at how well it conformed to the "lines on a chart" I drew. Don't believe me? Don't care.
LINK below 200MAPlease feel free to share your view on this pair down below in the comment section. I'm more than happy to be challenged and have an interaction on this idea.
Also make sure to leave a like as it helps me out a lot!
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LINK
- Playing with support from October @ 74k sats.
- Below 200MA
- MA's looking to form death cross
- MACD in negative territory
I'll be looking for:
- Break above 200MA
- MACD curling up
After which I hope we can break the blue resistance zone. A lot will however depend on what bitcoin is playing to throw at us...