LINKBTC a mega bullish setup
Hey friends, hope you are well and welcome to the new update on Chainlink.\
All time high resistance broken out:
In USD market, the priceline of LINK has found a good strong uptrend line support. And broke out the all time high price and sets new all time high price level.
Up-channel has been broken out:
On the daily time period chart, the price action of Link formed an up-channel. There was also good support of 200 SMA at the support of channel. Now finally the priceline has broken out the resistance of this channel.
SMA support re-test:
Now if we take a look at Link with Bitcoin pair monthly time frame chart, then the priceline of Chainlink is testing 25 simple moving average as a support 1st time even in the history of Chainlink.
Conclusion:
In US dollar market, the price action of Chainlink has already crossed all time high but in Bitcoin market it has moved down at the strongest support of monthly 25 SMA. Therefore in future a very powerful rally is expected.
All time high resistance broken out:
In USD market, the priceline of LINK has found a good strong uptrend line support. And broke out the all time high price and sets new all time high price level.
Up-channel has been broken out:
On the daily time period chart, the price action of Link formed an up-channel. There was also good support of 200 SMA at the support of channel. Now finally the priceline has broken out the resistance of this channel.
SMA support re-test:
Now if we take a look at Link with Bitcoin pair monthly time frame chart, then the priceline of Chainlink is testing 25 simple moving average as a support 1st time even in the history of Chainlink.
Conclusion:
In US dollar market, the price action of Chainlink has already crossed all time high but in Bitcoin market it has moved down at the strongest support of monthly 25 SMA. Therefore in future a very powerful rally is expected.
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