CHAINLINK 🟩🟨🟥 Marines + China + Blockchain. Need we say more?💬Chainklink ($LINK) has had some bullish news recently as word spread that China’s Blockchain Service Network (BSN) integrating Chainlink’s oracle service.
Despite the bullish news, LINK also just recently hit resistance and moved lower as the broader market dropped today.
Let's take a look at some levels for LINK to get a sense of how the current correction might play out.
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Support:
S1: The S1 orderblock formed from price inefficiency on the way to the previous all-time high is the first support for the LINK Marines to hold. A reaction here and then a retest of R1 is a likely scenario.
S2: The S2 S/R flip and orderblock cluster is a logical level to hold if S1 can't. There is some solid support here and we expect to see a major reaction if this level is tested.
S3: The S3 orderblock is the last hope for the bulls. While ideally this isn't tested, a move lower breaks the uptrend, and S1 - S3 failing show weakness. The Marines need to defend this level, but bulls generally need to be cautious here.
Resistance:
R1: The R1 all-time high is the most logical point of resistance. This was the level LINK just got rejected at, and it will almost certainly come into play again. What the bulls want, and what the bears don't want to see, is a breach of R1 with support found on it from above.
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Summary:
There is nothing wrong with a corrective move in a bull run, healthy corrections are not just normal, they are necessary. No better time to pull back than when the whole market does.
With that said, the LINK Marines now need to defend support while ensuring they ultimately move past the All-time high and find support on R1 before heading higher.
Resources:
cointelegraph.com
LINKETH
LINK/BTC (Breakout Sign Today?)LINK/BTC
-starting to break/test the flat area of resistance
-we have a bullish ascending triangle
-open only Long orders if we can close above resistance
-that's the confirmation of market direction
-the upside target is up to the swing top
-stoploss should be placed under 100D MA
LINK/USD (Back Inside Sideways Channels)LINK/USD
-failed breakout due to BTC dump
-the price is back inside the sideways channel
-if lower support is broken, we might see waterfalls
-no trading inside the channel
-wait for the breakout before opening any positions
-market sentiment is bullish to slight bearish
LINK/BTC (ChainLink) Next 88% Ride what you say...?LINK/BTC ChainLink TA Update:
My First @chainlink Chart looking Very Bullish.
Strongly Bounce back from Support level at 36800 Satoshi.
Every Time Pumped upto 100%+ when Hit this Support.
What we can expect this time.
I personally Expect Minimum 50% from Here.
but I am bought small amount and watching and If dip come Buy more.
Support: 36800 Sat
Resistance: 68308 Sat
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LINKETH Mark UpSince I track LINKBTC I figured it'll be a good idea to look into ETH due to it having more volume. I did a top-down analysis but only to the H4 chart. Let's look into this Crypto pair, track it and potentially make some successful moves from it.
Although I do believe the bears are going to enter the market either this week or the following, I am overall bullish. It's important to build Confluence when considering to execute a trade so what I look for when compiling information is at the very least, three (3) or more signs as to why I should take a position. Let's begin!
Bias: Bullish
Confluence (at least 3):
1. Order Block at high end of the curve was breached. Precursor.
2. Strong bullish uptrend on multiple TFs.
3. Huge Order Block formed right above PPZ (0.01233874).
4. Counter TL was broken by price to head further up.
5. Hidden Divergence from Weekly's RSI is signaling for a bullish continuation.
Like I stated up above, the bears are likely to enter before Price Action hit higher levels. Even though that zone was breached it can still tumble down, and that would be great if it did due to that nice profit margin that's waiting below. We shall see.
LINK/BTC Bearish Diversion So I am Shorting LINK#LINKBTC Bearish Diversion update:
#Link looking Bearish diversion and if breakdown this Red dotted line support then I will short
Small position short Added with Stop Loss 49600 Sat.
Support: 42572/37172/33086 Sat.
Resistance: 49600/54819 Sat
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#Chainlink | Update LINK made a good rally in the previous month 135%
And we had expected this rise before it happened. You can see the idea below
The price has entered a correction period for about two weeks, and we expect this correction to end with the weekly candle closing and then continue rising
LINK/BTC (Uptrend continue?: up to 50% profit)LINK/BTC
LINK has found the same support at the upward trendline and 200MA support area.
The 33300 sats area also coincides with the previous resistance area which is now a new support territory zone.
The priority again goes to the upside and our target is the swing high and stop-loss is below 200MA.
LINK/USD (Bullish setup: up to 40% profit?)LINK/USD
LINK is trading inside this symmetrical pattern which technical could break either direction
but since the price action is already trading above the 50M on the 4H time-frame.
This shows strength from the bulls that the short term momentum is starting to shift to the upside.
If LINK can hold the current price levels for the next 24-48 hours.
It has the chance to break bullish and reached up to 3.36 dollars.
The stop-loss would be below the previous low at 1.94 dollars.
LINK/BTC TA Update (1 more pullback before reversal?)LINK/BTC
LINK hit the top of the ascending channel trend-line resistance with a decline in volume. The RSI is also showing weakness from the buyers.
This is not good, LINK is might be getting ready for a potential reversal. We may see another pullback to retest the ascending support trend-line between 40000 sats area.
If we get to that point, that will be its decision time to continue higher or go back to the mean.
Consolidation under resistance and Hourly TriangleBreakout above $2.93 and we test/ break through $3 or break through $2.86 and we may see a retest of $2.80. Move really depends on how BTC reacts above 9450. LINKBTC pair also consolidating in 30k SAT range as 31K failed. Move imminent and I am long since $2.75. This is what I am seeing on the charts not financial advice. Risk reward 2:1 if stop is set at $2.85 USDT.