Long

Link to do in months what took Bitcoin Years

Updated

This is basically become the Crypto Fractal in my mind for most crpytos (Except XRP of course). As a fractal we should expect a lot of similarities with high correlation but expecting a 1:1 repeat is sheer foolishness.

Major Dissimilarities first:

Link is moving faster than bitcoin
Link spent less relative time on consolidation (no prolonged descending triangle)
When Bitcoin ended consolidation it was more impulsive than link
Bitcoin had a lower low on the Eve while Link had a lower low on the Adam
Bitcoins Eve was rounder than links

Major Similarities and Predictions

The blue trendline is a Signiant source of support in the relative long run (months for link, years for btc) and a loss of support lead to the Adam bottom. PREDICTION: When Link breaches it again it will be an area of consolidation before continuing the parabolic move upwards.
The orange horizontal line will need to be breached on Link before the uptrend can proceed with gusto. A breach and retest of the orange trendline on Bitcoin heraled the bull run. PREDICTION: link will likewise retest the orange trendline as support before it goes parabolic
The Black Trendline was predominately resistance on bitcoin before it flipped to support. That flip to support was a major bullish signal. PREDICTION: Likewise with Link except what took 3 months might take 3 weeks.

Further that, it appears that linkbtc is against the weekly Bollinger band lower limit and so far in the whole chart history that has been an advantageous position to buy link over bitcoin. Between here and there it might go up and down but the over all trend is upward for link/btc. We might double test the lower limit of the weekly BB, we might struggle to find support on the baseline, but it it time to accumulate link.

Conclusion
In the short term there a lots of longs to be taken in bitcoins favor, but for the next cycle link appears to be the bet for easier gains to the upside than bitcoin.

Note

Decided to take a look at the time component with a time based fib extension and it looks like Link has been following this crypto fractal pretty well but just on an accelerated schedule. If this plays out Link should be x4 in less than a month. Kind of audacious to call that, but that is what the chart is showing. Not unheard of in crypto.

In other words, pump my bags please.

Note

Linkusd has hopped above and right on top of the orange line I idenfigied as a key level at the begining of its post. The line is unmoved at 5 significant figures. There is a micro structure right there with some micro bullish divergence that should be able to get price action to perform.

The target shows full performance of the flag pole which was drawn conservatively. Other targets would be the top of the wedge or the ATH that we hope gets destroyed.

BTC spent almost a month creating the structure to break its ATH and so if the hypothesis is link is moving somewhere between 5-7x faster than btcusd then we would expect to be through within 3-5 days.

Note

Link continues to consolidate on the falling black trendline. I took some losses ke some losses as it wicked down further than I was expecting and those trades are lost in the red.

All in all I am still glad with my entries and the best entry will probably be if the rising blue trend line is tested as support. Considering how fast I expect things to be moving you will need a well structured entry if you are margin trading because there will continue to be a lot of thrashing around.

Note

We are at al all time high for link and things are looking bullish. Expect most (not all) formations to break up until we go about $40. If a formation does break down, it should break down to lowest range possible (bulkowski will be great reference for for calculating these pullbacks) or be part of a larger bull pattern.

Note

My above udate had its target of $23 reached and from there we precipitously dropped down to retest the previous high. I used this dip to cycle my gains into Eth, which is a 100% collateral coin on kraken while link is only 50% collateral and I relogged below the previous ATH.

I'll continue to keep my eyes out for dips. I am not to worried about calling tops, I am just looking to relong dips.

Note

Strap in boys price action tested the all time high on the last dump and on this dump we didn't even hit it. UNIRONICALLY we may never go below 21.00 again.

Note

Chainlink is one again finding support on previous all time high. I would have liked to see less white space in the middle of this ascending triangle. I would not be surprized to see some deep wicks into the structure as it continues to find support.

This_Guhy

And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?

~Nathan Explosion

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