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LINKBULLUSD trade ideas

LINK: $6.5 is still waitingDuring the previous week the price of LINK was influenced by the general negative sentiment on the market influenced by the uncertainty over macroeconomic situation in the US and its spill over on the rest of the world. Highest weekly level was reached on Monday at level of $7.7, and for the rest of the week the price was moving with a down trend to the level of $6.8. On US inflation release, the price moved to the level of $6.3, however, it swiftly reverted back to previous levels. RSI made incremental moves between levels of 46 and 40. The market is still more oriented toward the oversold side, which opens a space for a price to move more to the down side. Moving average of 50 days started shy conversion toward MA200 counterpart. Still, the golden cross is on a long stick. Support line at $6.5 continues to be an active point on charts for some time now. Whether this level will be reached in a week ahead is to be seen, but there is some probability for such a move. On the opposite side, there is equal probability for the $7.0 resistance line to be tested one more time.
COINBASE:LINKUSD
by XBTFX
1
ALTS via LINK - 'Time to pay attention'Altcoin Market via LINK I won't pretend to know if this is bullish or bearish consolidation OR accumulation - meaning I would know the next major direction. If you see accounts telling you the next move, just consider this chart and make your own opinion because in all honesty they don't know more than the next trader. This is subjective, so anyone is entitled to their opinion here. One thing I know for certain, this is definitely a period consolidation - Whether up or down is the question. It helps to understand this though, despite not knowing direction in the next big move. This is because you can wait for a clear decision, and plan for the longer term. If this breaks up, perhaps it is then accumulation or bullish consolidation, meaning you should plan for a lot more upside. On the contrary, if we break down, we have a longer and extended bear market (jump out of BE positions and wait wait wait...). This is a critical period in the market that will decide the next 4-6 months of PA in my opinion. Time will tell, but if you plan accordingly as much as you can you will be successful. Preserve capital if this is NOT the bottom (to buy/accumulate lower, not all of us have unlimited capital to buy every week as we drop), OR have the ability to switch your bias if this is potentially 'the' bottom and accumulate on dips upwards - ie: don't get bear market PTSD and stubbornly avoid the trend reversal. This is my strategy, tried tested and true. Food for thought. V
BINANCE:LINKUSD
by cryptovatsik
LINK: $6.5 is still a targetThere has been some positive news for Chainlink during the previous week, as news reported that Two Sigma Securities, one of the leading crypto hedge funds, will start cooperation with Chainlink by providing data, which includes swaps, options and other information related to derivatives. At the same time, there has not been a market reaction on the price of the LINK, as markets were generally traded flat during the week. At the beginning of the previous week, LINK was testing a $7.0 support line. Without strength to clearly break it, the coin reverted to the upside to test the resistance line at $8.0. However, at this point there has not been strength to move above this level. LINK is ending the week around $7.4 level. RSI tried at one occasion to cross the 50 level and head toward the overbought side of the market, however, it soon reverted back to the level of 50. Moving averages of 50 and 200 days are currently moving as two parallel lines, which means that the golden cross is still on hold. For the second week in a row, charts are clearly pointing to the $6.5 level as the next target for the coin. During the previous week this level has not been tested, so it is postponed for the week ahead. On the opposite side, there is some probability for the resistance line at $8.0 to be tested for one more time.
COINBASE:LINKUSD
by XBTFX
LINK: $6.5 one more time?Despite increased investors interest for LINK, during the previous week the coin modestly reverted to the downside. Highest weekly level reached was $8.5, however, there has not been market strength to reach the $9 long term resistance line. At the same time, a short reversal to the downside was up to the level of $7.3, still above $7.0 support line. Market continues to make shy trades, supported by the general insecurity over future macro conditions. During the week RSI went up, modestly below level of 60, however, as of the end of the week the indicator reached level of 48. Such moves are confirming that investors have still not clearly decided on the trading side. Moving average of 50 days started modest divergence from MA200 counterpart. It is still early to note if this is a new trend for MA50. At this moment, charts are clearly pointing to a $6.5 short term support line, which is to be tested in the coming days. There is no clear indication that this line could be breached to the downside. On the opposite side, there is a probability that LINK will revert to the upside and $8.0 resistance line to test it for one more time. At this moment, the $9.0 long term resistance line is shortly postponed.
COINBASE:LINKUSD
by XBTFX
Chainlink : The 4th Industrial RevolutionToday H₿ Capital is analyzing LINK based on a (2W) chart 📈 What is ChainLink ? Chainlink is a decentralized blockchain oracle network built on Ethereum. The network is intended to be used to facilitate the transfer of tamper-proof data from Off-chain sources to On-chain smart contracts. This solution is important because currently, most smart contracts are “isolated” on the blockchain, which means they can only interact with other contracts on that same blockchain. This limits their usefulness, because in the real world, data doesn’t live on just one blockchain. In order for adoption to truly take hold, different systems need to be able to talk to each other in a seamless and secure way. Chainlink solves this problem by providing a way for smart contracts to access data from off-chain sources. This data can be anything from cryptocurrency prices to weather data or even individual identity information. In 2021 Chainlink has signed Eric Schmidt, Google former CEO, as a strategic advisor. Recently, the Interbank messaging system "SWIFT" has partnered with price oracle provider Chainlink to work on a proof-of-concept (PoC) project which would allow traditional finance firms the ability to transact across blockchain networks. To fully understand the extent of this partnership, remember that SWIFT is the most widely used interbank communication platform for cross-border payments. In particular, it connects more than 11,000 banks around the world and records an average of more than 40 million daily transactions (are you bullish now ?). Technical Analysis What we can see : - LINK made a complete Elliott Cycle started in June 2018 with the first leg of the impulsive wave (1,2,3,4,5) - Back in may 2021, following the bitcoin crash, Link started its " A B C" corrective wave movement in a "regular flat" structure (3,3,5) - By using Fibonacci retracements from the beginning of wave 1 (0,16$) to the top of wave 5 (52$) we can see that prices have stabilized on the 0,886 fib level (which generally indicates a potential bottom). Reasons to be bullish : - The spreads (long / short) are very low - Prices closed above the Tenkan and seem to hold it - Prices break the first downtrend line - MACD seems ready to initiate a bullish crossing - The slow stochastic wants to leave the oversold region So regarding all of the above informations, it seems that Link is ready to start a new Elliot cycle (1,2,3,4,5 / ABC) Two scenarios we can expect : Case #1 : Bulls - Prices take support on the Tenkan and break with conviction the 10$ area where we have a massive resistance (Kijun + SSB flat alignment) - RSI closes above level 46,67 / The stochastic closes above the oversold region / MACD crosses bullish R1 ----> Kijun flat (22$) R2----> Second downtrend line contact R3 ----> SSB + Kijun flat alignment : (28$) R4 ----> ATH (52$) TP1 ----> 89 $ (1,618 Fib level) TP2 ----> 142 $ (2.618 Fib level) TP3 ----> 194 $ (3.618 Fib level) Case #2 : Bears - Prices close below the Tenkan and below our first downtrend line. - RSI fails to break the 46,67 level / Stochastic fails to leave the oversold region / MACD doesn't cross bullish TP1 ----> 6,14 $ (0,886 Fib level) TP2 ----> 4,57 $ (Top of the biggest VPVR bar) TP3 ----> 3,46 $ (VPVR - Point of control) Good luck traders, may the crypto be with you 🍀 FEEL FREE TO LEAVE A LIKE AND FOLLOW ⭐ H₿ CAPITAL ⭐
COINBASE:LINKUSD
by Hector_Bienvenu
Hunter's Rally The next full moon is Hunter's moon on October 9th 2022 at 10pm right on the next Fib Time sequence also right at the end of the triangle. All things are aligning together , when the universe aligns things like this , its is a very special moment that must be taken advantage of. I do not have a logical explanation of what is occurring right now , all I do is trade it , it happens a few times every Bitcoin cycle and this is one of them. The next rally starts with Chainlink leading the market , the LINK/BTC dominance will break out on the full moon date also. If you want to check out trading plan for this move click the TA below. Things just line up together mostly under the start of full moons ,if you don't believe you will soon.
COINBASE:LINKUSDLong
by Sporia
13