LINKUSD.P trade ideas
Link: buying climax? Maybe not.Wyckoff Buying Climax:
This is a technical analysis concept proposing price manipulation by large institutions to accumulate shares before a breakout. It involves specific price and volume patterns.
Identifying a true Wyckoff buying climax is challenging and subjective.
Observations on LINK/USD:
The recent price increase from $6.50 to $18 is significant, but the pattern doesn't perfectly match classic Wyckoff phases (Spring, Accumulation, Markup).
Volume has increased during the uptrend, but not consistently throughout the supposed accumulation phase, which is a key Wyckoff characteristic.
The current price is near resistance levels at around $18.
Technical Indicators:
RSI: Currently at 73, nearing overbought territory (above 70). This suggests a potential pullback or consolidation in the near future.
Stochastic Oscillator: Near overbought territory, similar to the RSI.
MACD: MACD line is significantly above the signal line, indicating strong buying pressure and continued upward momentum. However, it's important to watch for potential divergence (when MACD starts to flatten while price continues to rise) as it can signal weakening momentum.
Possible Future Movement:
While the recent price action and strong indicators are encouraging, caution is advised due to overbought conditions.
A pullback or consolidation to test support around $15-$16 is a possibility before another leg up.
Breaking and holding above $18 with sustained volume would further strengthen the bullish case.
Overall:
LINK/USD has seen a remarkable surge, but overbought indicators suggest potential for a breather. Watch for:
Price behavior around support levels ($15-$16).
Volume changes (a decrease could indicate pullback).
Movements in RSI and Stochastic (a pullback followed by renewed upward momentum would be ideal).
MACD for potential divergence.
Remember:
Technical analysis is not a guarantee of future performance, and past performance is not indicative of future results.
Crypto markets are inherently volatile, so be cautious and only invest what you can afford to lose.
Do your own research and consider your risk tolerance before making any investment decisions.
CHAINLINK BULLISH MOMENTUM!!!After moving back and forth between $13 and $17 for three months, the price has now surpassed the $17 resistance level, suggesting a potential increase to $20, marking an 18% upside. It's advisable to set a stop loss at $15.90 and keep an eye on price alerts. ChainLink (LINK) was our recommended coin pick, and it has seen a 110% increase since our initial report in August 2023. Being a prominent oracle data provider, it stands to benefit from the ongoing trend of tokenizing real-world assets such as US T-Bills.
Regarding the price pattern, it was trading within a Sideways Channel, indicating market indecision. For trend traders, it's wise to wait for a breakout in either direction, often aligning with the existing trend. Meanwhile, swing traders can engage within the range, buying near support and selling near resistance.
The overall trend is upward across short, medium, and long-term horizons. The nearest support zone is $13.00, while the recently breached resistance zone is $17.00, followed by a potential target of $20.00-28.00.
Link breaking out of rangeLink crypto seems to be breaking from this range. There is also higher highs in the making.
Chainlink (LINK) is completing multiple / nested BULL patterns
This is my first "idea" but i wanted to share it.
It has already been pointed out by niko1923 that the 1H chart is completing a cup & handle pattern now but it's more than that. It is actually nested within a VERY BULLISH inverse head & shoulder pattern in the 1W chart.
The 1W chart for LINK/USD is comleting an inverse head & shoulders that started back in January 2022. Furthermore, the right shoulder is also an inverse head and shoulders pattern.
The inverse head & shoulder indicator (on the larger pattern) is calling out a $31 target.
so we have a cup & handle nested within an inverse head & shoulders, nested within another inverse head & shoulders... i would say LINK is a buy right now :)
"This is not financial advise"
LINKUSD Breakout Zone IdeaLINK has been sitting in this zone between $13 and $16 for a while now. Accumulation phase seems to be ending. Looking for some good expansion next. More utility than a lot of tokens with higher market caps tbh.
Chainlink hitting major resistenceShort opportunity as Link hits resistance.
Clear stop-loss level and take-profit zone with very attractive ratio.
Good stop loss in my opinions would be somewhere a little bit above 20$ while take-profit somewhere close to 10$.
Good luck everyone. I predict this will be the last fall in the market before the next bull wave.
Falling Wedge for #CHAINLINK Good show of strength today from #LINK
Otherwise know as Painlink!
But the pain could be over soon
If this falling wedge prevails as the main over arching big time frame Pattern,
that triggers and kicks off #crypto SUMMER
$LINK Cup and HandleThe market had a retracement-hopefully it was a retracement, and now it lighted it first white candle in 4 hr time frame. it may be early to make this assumption, but I will make it anyways.
15.935 is a critic resistance level. Below that level, the price is in process of making a cup and handle formation.
I am expecting this formation to be completed before this coming Monday. If it doesn't, this idea will probably be cancelled.
I would break my LINK budget into three pieces: I would buy with now with 1/3, I would buy another 1/3 after the breakout-if it does, and I would use the last 1/3 if the resistance gets confirmed as the new support line. One important point is that 16.500 might be the highest high for this move since it might be completing its Elliot waves, so depends on the price action and indicators, TP might be necessary. Stops are always crucial, and it is different for everybody.
I hope LINK will do as we say. Happy trading.
ps trust me, this definitely not a financial advice in any sort of way
LINK Scenarios Link possible two scenarios.
1- If price will retest the trendline then I will Enter Long.
2- If price will pullback from resistance zone then I will open Short
LINK / USDT
"On higher timeframes, the trend is 'Long.' I expect a pullback to occur, testing back a portion of the recent upward impulse, creating, at a minimum on a lower timeframe, an order flow.
The strategy is only valid if the price retests the specified level."
Chainlink (LINK) Gears Up for Potential Breakout, Targets $20Impressive 16% Surge: LINK has witnessed a notable 16% jump within six days, consistently forming bullish candles within the trading channel.
Breakout Run Imminent: The current bull run hints at a potential breakout, challenging the resistance trendline.
$20 Price Target: An upward breakout beyond the channel could catapult the LINK price towards the $20 mark.
Chainlink's Strong Market Position: Despite a pause in Bitcoin and major altcoins, LINK demonstrates remarkable strength in its ongoing bull run.
Key Developments Boosting LINK: Chainlink's advancements in Web3 and collaborations, such as with Protocol Labs and Coinbase's Base, are attracting significant attention and investment.
Whale Activity Indicating Confidence: Recent whale purchases, including a notable $8 million LINK buy, signify growing confidence in Chainlink's potential.
Long-Term Outlook Optimistic: Based on recent developments, LINK's valuation could soar, with predictions pointing towards $100 in the long term.
Channel Pattern in Daily Chart: The medium-term sideways movement has led to the formation of a channel pattern, indicating trapped momentum waiting to be released.
Supportive Trading Volume: The current rally in LINK is backed by a surge in trading volume, further solidifying the breakout potential.
Technical Analysis Indicating Breakout: The formation of a strong bullish candle near the channel's upper resistance points towards a possible breakout.
MACD Indicator's Bullish Signal: A bullish crossover in the MACD indicator below the zero line suggests a strong reversal and breakout potential.
Potential Downside Risks: While the outlook is bullish, a reversal from the trendline could see LINK retracing to $14.5 before another attempt at a breakout.
Link Short SetupIt is high probability setup for Chainlink, currently, link is trying to break the previous day high which is at $15.08.
it has to meet following condition for us to get short with link.
1. Current trendline has to be break.
2. important current support has to be break.
3. if first two condition met third condition will automatically met which is trading below today's low.
4. when above all 3 condition met, fourth and the last condition is has to below VWAP on 5mins chart frame!
and then our SL will above today's high around $15.12 and target will be previous day low of the range which is $14.27.
make sure condition are met before entry!
if its break the previous day high from here then we are gonna wait for price action to reveal the story and then we are gonna long and our target will be previous week high of the range.
thank you!
Chain-link: who’s really buying?The potential Wyckoff reaccumulation pattern on the Chainlink (LINK/USD) chart is definitely worth exploring. Let's unpack the details:
Supporting the Wyckoff Reaccumulation:
Price action: LINK has been trading within a defined range with multiple spring and shake phases, potentially indicating accumulation by institutional players.
Volume profile: Increased volume during dips and decreased volume during rises could be a sign of buying pressure at lower levels.
Bullish divergence: While the price has been consolidating, some technical indicators like RSI might be showing bullish divergence, hinting at potential upside.
Cautious considerations:
Confirmation: A clear break above the trading range with strong volume is needed to confirm the reaccumulation and signal potential continuation.
False breakouts: Like any pattern, Wyckoff can be deceptive. False breakouts above the range followed by pullbacks are possible.
Market sentiment: Broader market trends and specific news related to Chainlink could impact its price regardless of the technical pattern.
Overall:
The potential Wyckoff reaccumulation on the LINK/USD chart presents an interesting opportunity, but remember:
Wait for confirmation: Don't jump in based solely on the pattern. Look for a decisive break above the range with strong volume for validation.
Manage risk: Use stop-loss orders and maintain a diversified portfolio to mitigate potential losses.
Fundamental analysis: Don't rely solely on technicals. Research Chainlink's underlying technology, adoption, and future prospects.
✴️ ChainLink 6X Short (290% Potential | For Advanced Traders)ChainLink (LINKUSD.P) continues to move within a distribution phase, lower highs, really low volume... It's been many years since we have a distribution phase across many Altcoins, this is not yet confirmed.
If prices move and close above the last high, 17.68 and continue to hit a new resistance level, instead of distribution we had consolidation. If we see a breakdown happen from this range, we have a confirmation of the distribution phase. It can go either way.
➖ Sell at resistance.
➖ Buy at support.
This is not financial advice.
Leveraged trading is high risk and can result in all money lost.
Do your own research.
We use a manual stop-loss so patience is key.
Trust as well is needed if you don't understand the setup.
Adjust live to market conditions if the chart setup changes.
Wait patiently and the market will take care of everything.
There is always a second, third and even fourth chance... In fact, the market offers endless opportunities on both sides.
👉 Up to 290% with 6X.
Time expectation between 2-4 weeks for the full move to develop, can be a bit more...
There is a strong support at 10.25 before reaching the lower level.
👉 The potential for this target is 195% with 6X.
Thank you for reading.
Feel free to comment with your thoughts and questions.
You are truly appreciated for your time and continued support.
Namaste.
Link ImpulseAFter some wickof distribution, Link started forming something significant where we can track things more easily.
Projected some areas where wave 4 could land.
Lovely and clean count. Everything an Elliotitian wants. Wave 4 could take some time now...
LINK price struggles for a comebackNegative Trend in Falling Channel: LINK price exhibits a bearish cycle within a falling channel pattern.
Formation of Three-Black Crow Pattern: Recent price action in LINK shows a bearish three-black crow pattern, signaling potential downside.
Risk of Bearish Breakdown: Potential breakdown may plummet LINK price to $12 support.
Market Correction Impact: LINK's price is influenced by the broader market correction, fueling a bearish trend.
Bullish Struggle at $17: Repeated failure to breach the $17 resistance level is leading to repeated price drops.
Bearish Pressure at 50-Day EMA: LINK's price is testing the crucial support of the 50-day EMA.
Technical Indicator - EMA: LINK's market cap at the 50-day EMA indicates a struggle for stability.
MACD Indicator on Edge: The MACD nearing a bearish crossover, indicating a potential trend reversal.
Bear Phase Survival Uncertain: LINK's current price movement within the bearish channel raises questions about its ability to withstand a prolonged bear phase.
Possible Channel Breakdown: A breakdown from the current channel could significantly lower LINK's price.
Key Support Levels to Watch: Close observation of the $12 and $17 levels is crucial for determining future price action.
Reversal Possibilities: Any bullish reversal from current levels might lead to retesting overhead resistance levels.
Link Elliott Wave Count Revised Idea, and TargetIn previous analysis that I published this past weekend, I believe I was incorrect about the location of wave 5. I've since updated it. Simpler, cleaner count... I like this one better.
Old analysis:
LINKUSD, EW - Completion of complex wave 4 - $11 targetJust a thought/idea re. chainlink near term.
The higher timeframe 5 wave impulse is not complete, nor does it appear that wave 4 is complete.
I think a move down to $11 is possible in the short term. That said, the A/D indicator (accumulation/distribution) is printing a divergence on time frames lower than 12h. Longer term, I think link is headed to $27.
Support at 200W moving average. Will it break down to test it support at 50WMA or time for fireworks?
Shakeout then runClassic flush before a nice run higher. Next leg up for link is starting now with targets
of $23 and $28.
LINK in consolidation with bullish potentialCRYPTOCAP:LINK is consolidating in a bullish flag. I'm looking for a $17 entry mark, testing support and heading up to next resistance area.
If support broken, then I'm entering at the $5 lows for a long position with major potential for big gains in the future.
