360 trickshotwicks pull a flat double bottom and line graph looks cratering, bbwp shifted directions, contracting down in price and expanding up
LINKUSD trade ideas
LINK: testing $8.5 is (not) over?Since the beginning of August, LINK had a good period, where the price of the coin was pushed to the higher grounds, up to the long term resistance level of $9. Since this was a moment when the market reached its clear overbought side, it was expected that the coin would start with a short term reversal. LINK started the previous week around level of $9 and soon started its down trend to the level of $6.8, where the coin is ending the week.
With the latest moves, RSI was pushed from the level of 70 down to 37. Oversold market has not been reached during the week. At this moment, charts are not pointing that the coin is still ready to reach this side. Moving average of 50 days is quite modestly converging toward its MA200 counterpart, however, there is still significant distance between them, in which sense, it is too early to speak about golden cross formation.
Current charts are pointing that LINK will start next week by testing the $7 support line to the downside. There is no clear indication that this line might be breached, instead it could be expected a short reversal to the upside. In this sense, resistance at $8.5 might be a next target for LINK in a week ahead.
Link, vs ETH 2018Link is following a similar structure, over the same period of time, and $80 ETH and $16 link, had the same market cap.
Following the same trend further would make link $50 again in Summer 2024. Looks volatile enough to go anywhere during this dip.
LINK crystal ball long term schizo view.Dream scenario wishful thinking, chart for future reference.
LINK cautiously optimisticI am cautiously optimistic that link will resume its upward trend. Break of the upward channel will send link to the $18's territories.
Link broke out of a long term falling wedge who's first target is $13.4.
RSI is on support and price is on the ichimoku support lending for a potential bounce.
In my January LINK.d idea I predicted a drop in Link, but it has not reached the measured move, so the potential for further downside is real.
Link 2h$2 link seems like a stretch, that would make their market cap $900mil.
With new news and potential news...
Who knows...
LINK looks bullish on the inverted chart. Bottom early 2023.LINK target $2. Same idea, but more meme lines. Bottom is in when everybody thinks crypto is dead. After $2 LINK is going to $1000.
LINK looks bullish on the inverted chart. Bottom early 2023.LINK target $2. Macro environment bearish, bear cycle got more to go. Sentiment too bullish. Usually bottoms are formed, when everybody thinks crypto is dead this is not the case currently. More updates coming.
Link Bounce or DieLink has been struggling in a subrange but has painted many bullish patterns that suggested a rise to higher levels. One of which is a diamond bottom reversal pattern that I covered previously. It also broke out on the upside of a bearish descending triangle and currently retesting it and the support of a rising channel.
the RSI has been in an uptrend while price is stagnant forming many bullish divergences.
The current price point should lead to an upward reversal. If price breaks down the supports of the patterns, we will see further downside.
I am not of the opinion that the market will crash catastrophically at the moment as many pundits are predicting, if this should happen it will be in September which has been a consistently red month in the cryptoverse.
Link may be ready to breakout here.If it confirms the breakout here the target is $12.50. *not financial advice*
LINK: moving in overbought marketIt was a very good week for LINK. Coin found strength to make a move toward the long term resistance line at $9.0. LINK finished the previous week by testing this level. At the same time, a clear overbought market has been reached, which decreases the probability for this level to be further breached to the upside. Nevertheless, LINK made significant progress in a single week.
RSI reached level of 72, clearly indicating that the coin reached the overbought side of the market, implying that short term reversal is ahead. At the same time, MA50 started its modest divergence toward its MA200 counterpart. The golden cross is still far away, as two lines have some distance between them to overcome.
Current charts are indicating that LINK will start the week by testing the $9 resistance line. At this moment there is no clear indication on potential for this line to be breached to the upside. Instead, RSI is adding to probability for a short reversal, which might lead LINK back toward the $8 support line to test it once again.
LINKUSD daily time frame analysis Yellow fib drawn on the weekly time frame. This is the long time frame expected targets.
White fib drawn on the daily time frame. This gives us guidance for the short term targets and possible rejection/volatile levels.
Red boxes are drawn on the daily time frame where wicks are expected to fill during the next pump.
Let me know what you think.
LINKUSD: Bearish Bat with Hidden Bearish Divergence at Range TopCHAINLINK has been trading within this range for the last few months and recently has put in a Partial Decline; However it has formed a Bearish Bat on the Way up and may look to make a 50%-78.6% Retrace before continuing back up again to Bullishly Breakout.
So i would say the short entry is here and the profit target is between the 50 and 61.8 Retrace. Before then reversing again and giving us a Secondary Partial Decline.
Link inverted parabolaLink broke out of it's 434 day bearish parabola (in purple). In my experience, that means we have some upside ahead of us.
Keep in mind we're still in a bear market, which means that I see this pump as a dead cat bounce. I believe the price will rise in the next few weeks, crash to a new low in September, then move sideways between ~5 - 10 dollars until the early days of 2024, i.e., right around the time of the next BTC halving. Then we begin a new 1.5 year up only cycle, at which point LINK should pump high as hell.
These dead can bounces can be very profitable if you know where and when to sell. I've marked interesting resistance levels at which I intend to sell.
I've attached my macro BTC chart, and macro LINK chart, for accumulation zones.
LINKUSD ❕ upward channelLINK trading volumes declined.
Price and RSI have formed a bearish divergence (4H TF)
I expect that the price may continue to decline if the asset fixes below the support level. It is very important to watch the price reaction to the levels as the LINK is moving in an uptrend channel.
LINKUSDprolly something like that tbh
maybe brief rejection at trendline
but overall the way other coins are moving this scenario across the board is looking more and more likely sigh
travelling right now and kinda ceebs w trading (stress while travelling?) but 3 year bear market and overall is seeming less and less likely
global worker shortage? rather than high unemployment, but cost of living is up so speculative spending down?
eth coins been performing but this one kinda lagging comparitively, l2 narrative stronger than oracle rn apparently i suppose
just finished a 3 day hike n v tired so sorry if that doesnt make much sense
weve a cpi tomorrow but from what ive seen potenital for downgrading and restoring investor confidence but thats fairly speculative (source is vague but one of my more trusted ones)
so if this was the case then v ltf dip before resuming uptrend
techically weve got room for the obv to bounce higher and confluence level w ema200 and recent wick and old aug 2020 key level after initial takeoff of oracle narrative
leaning bullish as consolidation appears to be restoring market confidence
$LINK We have a breakthroughWeekly log broke the blue arc. We also have a 2 year breakout of the declining RSA. Positive momentum. The LINKBTC ratio chart is also breaking out.
LINK/USD I still think that we need to drop lower below 90% from ATH.
I will start acummulating more and more CHAINLINK when we reach blue area.
I want to see strong capitulation candle with a lot of liqudations of buyers before entering in to the market heavily.
Chainlink Price Analysis — August 8Chainlink has posted an aggressive 12% rally over the last 24 hours, tapping a near two-month peak at $8.74. The cryptocurrency also recorded its highest bullish trade volume on Bittrex since May, highlighting the notable expectations of a bullish rally in the near term.
That said, bulls need to be cautious of impending ease in pressure for LINK leading to a possible return to the $8.00 mark.
Meanwhile, my resistance levels are $9.00, $10.00, and $11.00, and my support levels are $8.00, $7.30, and $6.00.
Total Market Capitalization: $1.14 trillion
Chainlink Market Capitalization: $4.08 billion
Chainlink Dominance: 0.35%
Market Rank: #24
