ChainLink is potentially a great project which is based on "Smart Contracts". It will be an "LINK" between blockchain and the "real world", as "Oracle Problem" occured in, for example, Ethereum -1.50% platform. So what ChainLink is trying to do, is to be, so called, "Oracle" in transferring importand data between two parties (Blockchain platform and, for example, real world health industry).
My analysys is based on the idea that we are currently in ABC correction after first big wave. From now on we have to figure out where that correction might end. As i see it we are in the "Flat correction" and the C wave have high probability to end in between 4290 to 6253 satoshi. After that (if analysys will be correct) big wave 2 will end and we'll enter the most profitable wave 3.
For those who like formation patterns, there might be "Cup and Handle" formation in play. The safest idea to play that formation out, is to wait for breakout (red line) and buy after price will bounce off it (it will confirm that former resistance became new support).
Dont buy-in blindly, do your own research, set stop-loss. Good luck.
Check out my analysis on ChainLink. I would agree with you on the bearish trend if Link would not have such a strong trend line. If the trend line hold, Link will go up
Woer
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@cryptoeduards, Everything is up to Bitcoin. If BTC will go down to 7-8k quite rapidly, then rest will follow.