I know the chart looks ridiculous; it's hard to visualize such crazy vertical moves, but we have to follow history, and so far, we are still mirroring the last link bear market.
When you go back and spend time analysing Chainlink movement, you can you see that all of the big moves happen within a 40 day window, yep thats it 40days, extreme volatility and then its over in a blink of an eye.
Lets go back from the very start of Chainlinks history, well atleast to where the Coinbase chart starts.
2017

The first ever big Chainlink move from start to finish happened in just 40days.
2019

The second big move chainlink did lasted just 46 days and it was over , as soon as we broke the range we launched straight up to the 3.618.
2020

The next move higher was again the same break of range 41days till top.
2021

We also did something similar here we broke the range and within 30 days we break all time high again , then kept on pushing higher during the bull market for the blow off top.
As you can see when chainlink breaks this range it could just be 40days of "only "up" and then its over.

For the past couple months I have been following this bear market fractal that played out of chainlink last cycle. Its been close , very close , even now the last pullback was nearly the same .
So if the pattern continues to play out Chainlink will break out of the range October which lines up with "smartcon".

In the last TA about chainlink I went over all the past Octobers and saw that there has only been one October that chainlink has finished in the red , just when it got listed.
Oct 2017 -55%
Oct 2019 +49%
Oct 2020 +28%
Oct 2021 +19%
Oct 2022 +2.75%
So where does it go once the range its broken, thats the magic question if it repeats last cycle we talking about 170 dollars by January 2024.

I think if there is a explosive move it will be back to all time high just under the 8/1 Gann Fann.

My Eillot wave indicator is lining up with the 8/1 nicely and again the move would only last 40ish days
Chainlink broke all time high four times before the cycle peak with Bitcoin, question is will it do it again.
When you go back and spend time analysing Chainlink movement, you can you see that all of the big moves happen within a 40 day window, yep thats it 40days, extreme volatility and then its over in a blink of an eye.
Lets go back from the very start of Chainlinks history, well atleast to where the Coinbase chart starts.
2017
The first ever big Chainlink move from start to finish happened in just 40days.
2019
The second big move chainlink did lasted just 46 days and it was over , as soon as we broke the range we launched straight up to the 3.618.
2020
The next move higher was again the same break of range 41days till top.
2021
We also did something similar here we broke the range and within 30 days we break all time high again , then kept on pushing higher during the bull market for the blow off top.
As you can see when chainlink breaks this range it could just be 40days of "only "up" and then its over.
For the past couple months I have been following this bear market fractal that played out of chainlink last cycle. Its been close , very close , even now the last pullback was nearly the same .
So if the pattern continues to play out Chainlink will break out of the range October which lines up with "smartcon".
In the last TA about chainlink I went over all the past Octobers and saw that there has only been one October that chainlink has finished in the red , just when it got listed.
Oct 2017 -55%
Oct 2019 +49%
Oct 2020 +28%
Oct 2021 +19%
Oct 2022 +2.75%
So where does it go once the range its broken, thats the magic question if it repeats last cycle we talking about 170 dollars by January 2024.
I think if there is a explosive move it will be back to all time high just under the 8/1 Gann Fann.
My Eillot wave indicator is lining up with the 8/1 nicely and again the move would only last 40ish days
Chainlink broke all time high four times before the cycle peak with Bitcoin, question is will it do it again.
Note
MACD aboveNote
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.