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LINKBULLUSD trade ideas

LINK: time for short reversalFor some time charts were pointing toward a $6.5 short term support line which needed to be tested, and finally, LINK managed to reach this level during the previous week. The coin had to test this level in order to revert shortly back to the upside. LINK started the previous week at level of $7.3, which is the highest level reached during the previous week. RSI tried to reach level of 50, but it soon reverted to the downside and lowest level around 38. The markets are still standing closer to the oversold market side, without a strength to make a breakthrough to the opposite side. Moving average of 50 days continues to move closer to its MA200 counterpart, with a decreasing difference between two lines. This is a positive movement, as it points to some potential for a golden cross to occur in the short future period of time. Current charts are pointing to the $7.0 resistance line, which should be tested in the coming period. Whether this level will be broken to the upside, is unclear at this moment. First it should be taken into account that there are generally decreased trading volumes on the crypto market. Investors are reluctant to enter into position, due to unstable macro fundamentals. On the opposite side, there is lower probability for LINK to test the $6.5 short support line for one more time.
COINBASE:LINKUSD
by XBTFX
LINK: Cycle Bottom in at $4? LINK has crashed more than 90% from ATH, and I think the cycle bottom could be close. LINK could be trading in a 1:1.618 WXY correction with the bottom target being at $4. I wasn't sure how to dissect the past few months of sideways trading except labelling it as a possible wycoff accumulation with a secondary test coming. $4 also happens to be a high volume node on the volume profile. Ideally, I would like to see the Weekly RSI hit oversold territory, before calling a bottom. I don't think SPX has bottomed yet especially with US10Y ripping to the upside. Still have my eyes set on $3,200. Big Tech earnings next week could be the catalyst to start the cascade to the downside.
COINBASE:LINKUSD
by CrashWhen
3
#btcstarburst The world is Moving? ChainlinkThe world is moving… Is chainlink a good buy? Accumulate maybe… Chainlink is tied to many things, during the last Bull Market Link was will on its way to $100-$300…. What is its real value… This remains to be seen In the next ten years when full adoption takes place Link will probably be a BEAST… a minimum of at least $100+ not to mention the staking options. Some say $1000 this could easily be possible so $500 maybe a better shot..this is a study. DCA safely. CHAINLINK NEEDS ITS TURN TO RUN SOME TIME SOON!! LONG TERM…
BINANCE:LINKUSD
by Jonnycatx
LINK Potential Sign of Weakness Between $4.80 and $4.05Hi Everyone! This looks like we could still see a Sign of Weakness in Phase E of Distribution to a price point somewhere between $4.80 and $4.05. However, it may take its time about doing this. We are waiting for "both" Red AND Blue Lines to fall below Yellow Level 50 in the 9-Day and 2-Week time frames to create cause for Stage 1 expansion down. Here is our Short Term Group of time frames: Here is our Near Term Group of time frames: The Blue Line in the 6-Day may still hold us back from seeing a significant move to the downside all of a sudden. Mainly for how far it has yet to move down below Yellow Level 50. The 6-Day is top right of center on this chart. This looks like a slow bleed down due to how much work the Blue Line has to do to get below Yellow Level 50 to create EXPANSION down. I hope this analysis was helpful. Happy Trading and Stay Awesome! David
BINANCE:LINKUSD
by WyckoffMode
5
Chainlink Short WITH GREAT RISK-REWARDA very simple idea. The chainlink chart looks horrible, with clear distribution with three consecutive lower highs on the daily that are creating downward momentum and look like they're going to break the support. The next clear support is the 5-dollar level that was prior resistance in 2020. It is inevitable that we go and test it as support eventually. I am short and looking for a break of the support and a backtest as resistance. BTC breaking towards 15k should be enough to bring chainlink to 5 dollars
COINBASE:LINKUSDShort
by SynergyTradingSetups
2
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