Chainlink (LINK) to $48

On the above 2-day chart price action has corrected 90% from $52 despite the best efforts from the maxis. Missed my $3 target by a couple of dollars. Now is an excellent moment for long positions. Why?

1) The ‘incredible buy’ signal prints. On the 2-day, don't ignore.

2) Price action resistance breakout.

3) RSI resistance breakout. This is huge. 2 long years of resistance. The number of bulls on Chainlink during this period was incredible. Lesson, RSI resistance in play? DO NOTHING. You must wait for confirmation of a breakout. That is now confirmed.

4) Regular bullish divergence. 11 oscillators are currently bullish divergence across a 2-month period.

5) Lastly the 2-day BTC pair (below). For the last 2 years price action has been printing within a sizeable bull flag. 3 rejections from the upper channel whilst the above RSI resistance has been active. The 4th attempt will likely break through. IF that happens Chainlink will make a 2000% gain against Bitcoin.

Is it possible price action falls further? Sure.

Is it probable? No and no.

Ww

PS: not in this trade, you must ask for updates below, following Ww is not a strategy.

Type: trade
Risk: 6% of portfolio
Timeframe: You know, I’ve no idea.
Return: 500% and if $48 becomes support, we’ll look at it then.


2-day BTC pair

Trade ist aktiv:

Support on past resistance confirmed with the BTC pair. A big move is in the post.

Trade ist aktiv:

The weekly chart confirms support on past resistances. This is a sure thing.

Kommentar:

70% move about to occur on LINK / BTC pair

Trade ist aktiv:

breakout - the next move should be over $9

Kommentar:

Thought the interweb would be all over this Life cross on the BTC pair, but not so much as a whisper..

Kommentar:

Holly Molly Chainlink is looking incredibly bullish. And I don’t even hold it.

Monthly BTC pair

Trade geschlossen: Stop wurde erreicht:

Something very ugly has happened to market structure - this idea is no longer possible.