textbook wyckoff accumulation.
i believe we are in a textbook accumulation. the last few times was chainlink the front running altcoin. i think this is in the cards again. there is a very clear pattern as you can see.
also the market tends to "test" the previous all time highs. so there should be a lot of orders hanging in that area.
the trading range is between 0,00067 and 0,00087. as you can see it tested this range several times. this is for the big players to test if theres a lot of sellers in the market. the test below is also to see if there is demand for chainlink. sometimes this patterns goes with a very aggressive spring or shakeout. this is the last test and to shake off all the weak players in the market. it also would touch a lot of stop-losses. i think the level for a spring should be at least 0,00056. the last 3 bullcycles it touched the ath also. and a 15% procent dump is for a altcoin not that much. this would be the perfect buy opportunity in my opinion.
if there is no spring we have to look at volume, so we get an change in character. if we overcome the equilibirium at the approx 0.00076 level, i would consider to buy some chainlink.
possible target for the coming future is the breakout of the 0,00087, and the previous all time high at 0,0016.
also the market tends to "test" the previous all time highs. so there should be a lot of orders hanging in that area.
the trading range is between 0,00067 and 0,00087. as you can see it tested this range several times. this is for the big players to test if theres a lot of sellers in the market. the test below is also to see if there is demand for chainlink. sometimes this patterns goes with a very aggressive spring or shakeout. this is the last test and to shake off all the weak players in the market. it also would touch a lot of stop-losses. i think the level for a spring should be at least 0,00056. the last 3 bullcycles it touched the ath also. and a 15% procent dump is for a altcoin not that much. this would be the perfect buy opportunity in my opinion.
if there is no spring we have to look at volume, so we get an change in character. if we overcome the equilibirium at the approx 0.00076 level, i would consider to buy some chainlink.
possible target for the coming future is the breakout of the 0,00087, and the previous all time high at 0,0016.
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