LINK Breakout or BreakdownHere on the hourly after main net announcement, we have reached some consolidation with some selling pressure. This has created a triangle that is now at the end and is imminent for a move. Binance, is the leading exchange in terms of volume for LINK and will be back up for trade in the coming hours. I am expecting a lot of volatility at the open with new deposits clearing and a potential flood for alts.
Linkbtclong
LINK - Bullish Signs Indicating Reversal SoonChainlink has been one of the most bullish alt coins since the start of the bear market and it shows no signs of slowing down. Looking at the daily chart you can see that since hitting its peak 6 weeks ago, the price action has formed a bullish falling wedge and has completed a .5 Fib Retracement. The MACD has a near bullish crossover and the last bullish crossover on the daily led to a 50% gain within a week! I'm not saying we will do that now, but it's worth mentioning that we might get a strong move out of this falling wedge if history repeats itself. Speaking of history repeating itself, I noticed that 100MA has acted as support for the price throughout this uptrend. It also appears that it will run into the falling wedge just as its completing. This additional support in combination with a bullish technical pattern has me bullish on LINK. I will be looking for a breakout within the coming week and think the 100MA might be the catalyst to break it to the upside.
LINK Trading AdviceBuy Price: Yellow Line
TP: Green Lines
SL: Red Line
Invest Suggestion: 5-10 Percent
Profit Expectations: 5, 10 or >20 Percent
Just hold and watch. All targets will be reached within 24 to 72 hours as my prediction. But it's recommended to hold it for 6-7 days if any target not reached. Sell when you got some profit. I am sure, you will be get nice profit. Good Luck!
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LINKBTC a Perfect butterflyLINK demonstrates bullish mood at various timeframes: indicators are bullish and the trend is positive.
The strongest bullish sign is spotted at 4-hour timeframe where bullish XABCD has been formed. The price should grow till the Ichimoku cloud zone where it will consolidate for a next growth wave. We expect a decrease after our first target to the point near with the buy zone as it usually happens when such XABCD is completed.
Nevertheless the consolidation may took time there should be a significant bounce afterwards. We recommend this coin for medium trade perspective
$LINK Nearing Breakout Level - Strong Buy$LINK (ChainLink) is an undervalued project I have been monitoring for the past few months. Chainlink is the only project focusing on being a decentralized oracle provider that has a MASSIVE use case, partnerships like Request Network, ZeppelinOS, SWIFT and the LINK token can be staked in pools in the future to provide passive income.
Initial Entry - 5175 Sats ($0.49)
Analysis:
- Long-term Descending Triangle Broken (Red)
- Ascending Triangle Nearing Breakout Level (Green)
Breakout Level: 6175 Sats ($0.59)
Target 1 : 6928 Sats (33.6%)
Target 2 : 7681 Sats (67.3%)
Target 3 : 9187 Sats (134.6%)
Cap and Handle patternThe handle is not there yet... follow the chart in the next few days let's see what happens
*DISCLAIMER*:
I am not a financial advisor nor am I giving financial advice.
I am sharing my biased opinion based on speculation.
You should not take my opinion as financial advice.
You should always do your research before making any investment.
You should also understand the risks of investing. This is all speculative based investing.
STINKY LINKIES REPORT IN! SERGEYS HOOKERS HAVE BEEN FOUNDLINK MARINES REPORT IN!
Nah really though, I think ChainLink is an absolute gem of a coin.
ChainLink is trying to be the first decentralised oracle service running on the Ethereum blockchain with plans to incorporate themselves into every smart contract providing service there is. The reason why this is huge is because it is
1) an oracle
2) a decentralised one at that
The reason why these 2 points are so important is because at the moment smart contracts have no way to actually have contact with any of the outside world, making smart contracts almost solely limited to and onto the blockchain, and secondly a decentralised oracle service, with multiple security features planned for ChainLink, for instance not rewarding the "freeloading" nodes and looking for ways to prevent Sybil attacks etc, makes it, if it actually works, one of the most secure oracle services out there, thus making smart contracts secure as well.
The way I think of it is this.
In the 1850's in Australia, Victoria we had the gold rush. The ones who made bank are 1) the miners who struck gold 2) the guys who provided the pickaxes.
In this case, smart contracts are the gold and ChainLink - if it works, are the picks. IF this coin actually works out and does what it sets out to be in the whitepaper, this coin will literally surge well into the top50 marketcap, without a doubt. BTW this is speculative investing at its finest, I am no financial advisor, don't actually listen to me, be critical an do your own research.
These are partnered with SWIFT and apparently working together to create a decentralised oracle service, it is unknown at this time whether SWIFT will use ChainLink or use their own developed Smart Contract oracle.
Buy: 0.00004594 - 0.00005595
Sell: NEVER! Or if you must 0.00012977 - 0.00013500, or 0.00018229 - 0.00019000
Fundamentals:
Chainlink is releasing their simplified version of the Go Chainlink network by the end of March, but before then Sergey Nazarov - CEO of ChainLink will be attending 2 major conferences, Bitcoin superconference and SXSW conference as the head speakers.
Technicals:
Beautiful cup and handle. Seriously I don't think I've seen a more beautiful cup and handle before. However, I'm more of an Elliot Wave Trader so I'll use that as the basis of my analysis.
Chainlink at the peak of the 5 waves reached a high of around 0.00009819, and retested that high twice. The first impulse wave up had completed and is either nearing end of correction or starting the 3rd supercycle wave up. At current prices, LINK is almost perfectly retraced to the 0.5 and 0.618 regions sitting nicely in between, at its low of the retracement LINK had reached 4000 sats making it just below the 0.618 region. Using fib extensions, I target just above the 1-1 extension because the 3rd wave in elliot wave is often the longest, but never the shortest. That puts it around the 0.00013000 mark, and the final 5th wave at around 0.00018000 mark.
No need to rush into this trade, this coin won't be moving all that much since Mr Nazarov adopts the no news, but when I have news its huge, kind of approach.
BTW I'm still learning TA, so any feedback and criticisms will be greatly appreciated and welcomed.
So go ahead and grill me :)