So here i've laid out both my bullish and bearish prediction for chainlink, and Id really like some of you guys to weigh in on this one, are you bullish or bearish? Does your prediction follow mine or differ? Etc. This is a very interesting coin to me...
BULLISH: So with all relative technical analysis in green, let's look at the possible cup and handle formation the Linkies have been praying for. So far we haven't broken our long-term trendline, so a moon mission is still possible, and the recent dip that could be perceived as a breaking of the handle formation, I see more as a response to Bitcoin's recent volatility.
BEARISH: In predicting an Elliot correction wave, red, we unfortunately see that our last high was barely above the previous, and if our next rally cant test yet a newer high, we may almost certainly be heading for a mid to long term downtrend. Lastly, we can't ignore the MACD which isn't looking great.
Beyond TA: One thing, as i noted, is that LINK is very unique and weird coin. It's never talked about, the team has horrible PR 0.09% but seems to beyond just competent on the technical side, they have some major players and partners, but what does that even mean in the crypto space now-a-days. DYOR research, and make your own opinions about all these things, but one thing im almost certain of is that due to the relative silence from the team, a serious, big announcement could potentially have a massive bullish effect.
BULLISH: So with all relative technical analysis in green, let's look at the possible cup and handle formation the Linkies have been praying for. So far we haven't broken our long-term trendline, so a moon mission is still possible, and the recent dip that could be perceived as a breaking of the handle formation, I see more as a response to Bitcoin's recent volatility.
BEARISH: In predicting an Elliot correction wave, red, we unfortunately see that our last high was barely above the previous, and if our next rally cant test yet a newer high, we may almost certainly be heading for a mid to long term downtrend. Lastly, we can't ignore the MACD which isn't looking great.
Beyond TA: One thing, as i noted, is that LINK is very unique and weird coin. It's never talked about, the team has horrible PR 0.09% but seems to beyond just competent on the technical side, they have some major players and partners, but what does that even mean in the crypto space now-a-days. DYOR research, and make your own opinions about all these things, but one thing im almost certain of is that due to the relative silence from the team, a serious, big announcement could potentially have a massive bullish effect.
Kommentar:
Well we sure arent following any waves or cycles but if you went with my bearish possibility the call for price-action was pretty accurate, haha. I dont see us hitting red (C) however, maybe im overly optimistic, but as we can see viewing it on the Heikin Ash graph, the bearish momentum is really weening.