Opportunity for LINKLINK has been in a horizontal channel for over 200 days atm. If it breaks to the downside, this gives us a good short opportunity.
It could find support in the range between 3.8 - 4.3 USD . However, I believe this support to be briefly broken with the result of LINK hitting the 3 USD mark which might just happen if the right market conditions are met. (Mainly what BTC does).
I'm looking to buy LINK for the long-term and 3 USD could just be the sweet spot to do so!
LINKUSD.P trade ideas
✴️ Chainlink 300+ Days Consolidation Ending, Above $25 AlsoChainlink (LINKUSD) has been within a consolidation pattern/channel for more than 300 days now... This is coming to an end.
The longer the consolidation phase, the stronger the breakout when it takes place.
This pair is set to move above $20, hitting potentially $26 on this bullish wave.
It can go even higher... Patience is key.
Namaste.
LINK: has bottomed?A week after technical indicators formed a so-called Golden cross, negative news hit the market, which spoiled a bit the optimism of technical analysis for LINK. On the other hand, Silvergate Bank went bust, Silicon Valley Bank went bust and FED Chair Powell said that interest rates would most probably be higher than initially anticipated and the rate increase will be at a higher pace in the coming period. It’s just too much for one week. LINK could not perform better than it actually did in such general circumstances.
Although $7.0 resistance was a target for LINK at the beginning of the week, still, all the negative news pushed the price to the lowest weekly level at $5.9. Still the coin is ending the week above $6.2, and actually testing the $6.0 support line. RSI reached level of 32 which is quite close, but still not, a clear oversold side. Moving averages of 50 and 200 days are currently moving as two parallel lines, but there is still no indication that MA50 might start its convergence toward its counterpart. At this moment, the Golden cross still holds.
Markets will need a few more days until the situation is clear. In this sense, some significant moves should not be expected. Based on current charts, LINK has bottomed around the $6.0 support line and is ready for a short reversal. At this moment, level of $6.5 might be a target for LINK in the week ahead. Whether there will be strength for a return to $7.0 resistance will depend on the further fundamentals covering currently major market topics.
Link will break this structureLooking at a low target when it does. After increasing by another 20 million, the circulating supply went above 50% of the max supply recently. That would explain the dump this month. Bearish would be going to $3.50 and that becomes the new center of this structure. I don't think it will follow the upward trend line but that is the same line from my last post and it is really nice that everything closes around the same time. It would look so beautiful and that is why I would be bullish going short.
LINKUSD - Wyckoff MethodSpecial thanks to stockcharts.com for the explanation of the events in a Wyckoff accumulation period. Read more here: school.stockcharts.com
I have no experience applying the Wyckoff method, so this is simply a study to see if anything stands out as being useful for understanding the past several months of sideways movement of chainlink.
ChainLink: Drop Your Ball and Chain! ⛓ChainLink should drop its ball and chain to escape from the current sidewards movement in favor of the expected ascent. From the low of wave (ii) in blue, the altcoin should head for the resistance at $9.50 and surmount this mark to develop wave (iii) in blue. The subsequent countermovement of wave (iv) in blue should happen above this level as well. However, there is still a 33% chance that ChainLink might slip below the support at $6.43, thus triggering further descent below the next mark at $5.38. In that case, we would expect a new low in the form of wave alt.2 in green before fresh upwards movement can take hold.
Chainlink to $60 (Long Term View)Here's an update on LINKUSD which I posted for you guys back in January. Just like I expected, market is still ranging within this corrective phase, which is allowing big institutional firms to DCA from these cheap prices. We expect further consolidation over the next few months, before we see a downwards liquidity grab towards $0.09📉
This also moves similarly to our Bitcoin short analysis, as most Crypto's are still in a corrective phase for the next few months at least🔺Good opportunity for my Crypto Fund investors to profit by shorting the market!
LINK: a Golden cross?During the previous week LINK was following generally negative market sentiment, coming from negative developments around Silvergate bank. In this sense, the price was oriented toward the downside during the whole week. LINK started the week before around $7.5 short term resistance line, but soon reverted to the downside and lowest weekly level of $6,7. Around this level the coin is finishing the week.
RSI was clearly pushed below the 50 line, ending the week around level of 42. This implies that the market is more oriented toward the oversold side, which leaves some space for the price of the coin to move further to the downside. Moving average of 50 days clearly crossed its MA200 counterpart, forming a so-called Golden cross in technical analysis. This represents significant movement as it indicates high potential for a trend reversal. Certainly, it will take a few more days in order for Golden cross to be confirmed, considering that MA50 has slowed down its divergence from MA200 counterpart, with latest price developments.
General market sentiment is the one that is currently shaping the price of LINK. In this sense, the week ahead might be another slower one on the crypto market. The price of LINK is clearly heading toward the oversold side, which increases potential for $6,5, a short-term support line to be tested in the coming days. At this moment, there is no indication that the price could go lower from this level. On the opposite side, the resistance line at $7,0 could be tested once again.
CHAINLINK - Higher Timeframe OverviewCHAINLINK - Higher Timeframe Overview
Here we have the 2weekly chart of Chainlink. We can see that on a higher timeframe, we are still bullish. We have not yet completed the 5 waves. We are currently on the 4th wave which appears to be a WXY correction (breakdown: 3 waves for W, 3 waves for X and 3 waves for Y)
We are now in wave X. We need to see 3 clear waves down to complete the sequence.
Once we make that final move down, we can look for buying opportunities. Expecting the bearish correction to finish above the blue structure.
There is a potential for a 2000% trade coming up. Definitely one not to be missed!
LINK: not ready for downside?The market was not happy about inflation figures, which implies potential further FED's rate increases, so it switched to the sell side. LINK was following general market sentiment during the previous week, after not being able to cross the $8.0 resistance line. The lowest weekly level reached was $7.2 where the coin is finishing the week.
RSI took the downside, however, the indicator reached level of 50 as of the end of the week. It still does not point that the market is ready to take the road toward the oversold side. Positive development is with moving average lines, where MA50 moved quite close to its MA200 counterpart. Potential for the Golden cross is significantly increased with latest developments. This cross would also indicate the high potential for LINK to change the trend in the coming period, which is something that markets have been waiting for since the end of December last year.
Current charts are pointing to a potential for a $7.0 support line to be tested in the week ahead. However, other indicators do not show that there is higher potential for the downside. There is higher probability for LINK to revert to the upside, at least to the level of short term resistance at $7.5.
✴️ Chainlink Reveals Current... (Name Your Altcoin #52)Let's continue shall we?
I've done many analysis for Chainlink (LINKUSD) since we have an active public trade for this pair but someone requested to have this pair be part of our Name Your Altcoins series so let's dig in.
Chainlink is good news...
It is giving out positive signals.
As the entire cryptocurrency market is interrelated, connected, what one does the rest follows, having good news here can mean good news elsewhere.
Or everywhere else.
LINKUSD
Just two days ago, 22-Feb., we have a perfect hammer candlestick pattern.
This candle tested and confirmed EMA10 and EMA21 as support.
What looks great is the volume the following day, yesterday, really high volume, the highest ever on BitMEX for this trading pair.
Volume is one of the most valuable indicators available, having all this buying yesterday is great news... This tells us that the bulls are accumulating near resistance, which precedes additional growth.
The MACD printed a bullish cross recently and is trading above zero.
The RSI is super healthy/strong at 62+.
If we decide to look at the weekly timeframe for additional information...
We can see a Doji this week leaning bullish (has a long lower wick).
Last week closed almost full green with the highest close since October 2022.
Prices trading above the 0.682 Fib. extension, this one only confirms if the week closes above 7.917.
We have some really good signals... If LINK moves forward, Bitcoin, Ethereum and the rest of the market will do the same.
There is always one or two pairs that tend to move ahead when consolidation is taking place, if you find those, you know what is coming to the rest.
Namaste.
LINKUSD Potential For Bullish Rise | 24th February 2023Looking at the H4 chart, my overall bias for LINKUSD is bullish due to the current price being above the Ichimoku cloud , indicating a bullish market. Looking for an immediate buy entry at 7.895, due to price bouncing off the overlap support at 7.503 strongly, indicating that the bullish momentum is strong. Stop loss will be at 7.503, where the previous overlap support and 38.2% Fibonacci line is. Take profit will be at 9.480 where the previous swing high was.
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LINKUSD Potential For Bullish Rise | 24th February 2023Looking at the H4 chart, my overall bias for LINKUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. Looking for an immediate buy entry at 7.895, due to price bouncing off the overlap support at 7.503 strongly, indicating that the bullish momentum is strong. Stop loss will be at 7.503, where the previous overlap support and 38.2% Fibonacci line is. Take profit will be at 9.480 where the previous swing high was.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
LINK: Oracles have been really quietLINK has been consolidating for 287 days. This coiling of price action is going to lead to an explosive breakout any day now. LINK also crossed its 2.618 fib ring, and found support again on its 1.618 fib channel line. History doesn't have to repeat itself, but last time LINK crossed the 2.618 fib ring it pumped 150%.
LINK/BTC is in an bullish accumulation structure finding support on the .618 fib. Last obstacle is closing above the long term trend line before breakout.