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Chainlink

LINK aiming to retest $23LINKUSD is currently trading around $22.70, up 5.5%, above average when compared to BTC and most of the altcoin market. We have now completed what appears to be a nicely formed W pattern on the 1h/2h/4h charts. Forming since yesterday, it confirmed earlier today as the European markets opened several hours ago after retesting the $22, which aligns perfectly with the lower market support band (20w ema low). Our last major move was the rejection of the upper market resistance band at $28-$29 (FIB golden pocket & 20w ema high), followed by a failure to hold the the bull market bands (20w ema / 21w sma) as we came back for the retest. Let's look at the longer timeframes, measuring out probable direction using Fibonacci based Gann fanns. Market makers appear to want to retest $23 today, which would get us back over the critical 50h ema. If rejected there, we know we're in for at least a second retest of the $22 levels, but more likely even lower since a failure there would indicate the current W pattern has failed so market makers want to bring the price lower. If accepted and we push through $23 and hold through 2 or 3 4h candles, I believe we could see a continuation towards $24.50 - 25.50 range, for a retest of the bottom side of the bull market support bands about 10% higher from our current levels. No matter, I expect a retest of the $23 before we know with a high level of confidence that the current movements are supporting a larger move to push back through the key moving averages and re-initiate a sustained multi-week trend to the upside (ending the multi-week trend to the downside). If we don't come back for a retest now, trade carefully, it's possible this push is nothing more than market makers working to get better prices for a short play they'll execute sometime over the weekend or early next week. If we can continue to push higher, we might have a similar situation play out with the Bollinger Bands as we have seen in the past where once we touch the upper band, we continue to ride it closely, pushing it higher and higher for many consecutive (30+ days) before being squeezed back down. Summary: Major areas of resistance within immediate reach are at $26.5 (VPVR volume peaks / interest) and $28 (FIB golden pocket), which we must overcome and turn into support before we can move higher. On the downside, $22 has acted as strong support for the past week, which aligns with both the major areas of interest (VPVR) and a key moving average (lower support band, mentioned before). If we come back for a third test at $22, there is a high probability the market continues to favor shorts. A quick look at the Heikin-Ashi candles before I go... reminds us to not get too excited yet. We're still trending down... and the trend is our friend, until the end. Don't get liquidated folks! Make sure you've set your stop losses and buy-limits!
COINBASE:LINKUSD
by calmrat
ChainLink - Fibonacci Plays ✅ChainLink recent gave us an ascending correction which indicated to us that there's a correction coming for more upside or a reversal. In this case we saw a correction in the for of a descending ABC channel, which is currently showing rejection at the 618 fibonacci level. Trade Idea: - Watch for a break of the descending red trendline for entry - Put SL below the recent lows - Target the fibonacci levels indicated: 0 and -0.27. Once we're at the bigger wedge resistance, we'll be looking for shorts. See below: Goodluck!
by Altsignals
3
LINK - My Trading Plan in a picture!Hello everyone, if you like the idea, do not forget to support with a like and follow. on WEEKLY: left LINK is overall bullish trading above the blue trendline and is now approaching the 20.0 support in green, so we will be looking for trend-following buy setups. on H1: right LINK is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple) Trigger => Waiting for that swing to form and then buy after a momentum candle close above it (gray zone) Meanwhile, until the buy is activated, LINK would be overall bearish can still trade lower inside the green support before going up. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
6
Possible Head and shoulders *LONG* Keep an I on the possibility of this being an outcome for Chainlink. Even though it has been on a pure uptrend testing it's highs and lows and pushing forward. There is always another side to every success story. No matter what I believe, Chainlink will push through eventually. Keep an eye on resistance levels through the week. $27 specifically, if we find it causing resistance it is possible we can end back up we we are currently sitting at $22 - $22. 40 . Which in turn if this forms the infamous H&S , this may in turn push us further down to the $19- $17 range. Just hypothetical but possible. Good luck and Happy Tuesday!!
LLong
by Brother-Doug
A 1000 Dollar ChainlinkDoes chainlink even have bear cycles? , one can say price just goes into a long accumulation period before heading up once again. Secondary Long term channel still intact , I did have another I was charting but it broke that one. Chainlink has had a double rejection off the 8/1 Gann so far. The longterm channel and the end of the 8/1 Gann cross March 14th 2022 , I had been going over the idea of a cycle top in May 2022 for a while using a Chainlink Fib time sequence, it is possible that May 23rd 2022 for Chainlink is not the top but the start off its parabolic cycle up to 1000 dollars June 2023. The chart below you see is LINK/BTC this Fib sequence has been perfect so far at calling major moves in LINK and also calling the bottoms for price next date May 23rd 2022 ,out of hundreds of Fib time sequences I have used in the last 2 years this is the only one that has had a perfect count each time without fail.
COINBASE:LINKUSDLong
by Sporia
11
Chainlink Bounce Coming!!?Another coin that i am looking to add more of is my favorite project.. Chainlink, we are coming down towards our 0.2 FIB level and we are given the chance to get a bullish bounce here. We have tons of support underneath of our price action with uptrend support coming in from our previous low, support at our current spot of 24.31$, 20.67$ support and we have strong support coming from the 0.2 FIB level. Looking at the bollinger bands we have more support coming in from our midline, we are currently sitting right above this point and it is important that we hold above and close above to keep this level as support. Also being above this level enables us to make a run for that top bollinger band, and as you all know if we can successfully make the run up to there and close ontop of this band we could be looking at a fast sharp move to the upside, more often than not closing ontop of this band triggers that big move to the upside! Now the MACD isn't looking super great we just had a bearish cross, this isn't 100% confirmed yet as price action could begin to push up and cause another bullish cross, or we could see a short bearish cross with a bullish reversal following soon after. What we don't want to see is a strong move from the MA's pointing down and separating, separation in the MA's makes it harder to trigger a bullish cross, when the ma's are compressed together one day of green price action can trigger a bullish cross, same thing applies when looking at the upside. Another thing we don't want to see is the histogram start to make significantly bigger red bars day after day, this shows an increase in the bearish momentum and can really accelerate the further we move into the bearish MACD cycle. Next very important we have the RSI, reason of why this is important is due to the RSI being directly on the midline, if we can see a bounce here and reversal back upwards we are looking at a very plausible confirmed uptrend and thats exactly what we want, if we break below here and get stuck unable to regain above here we are looking at a confirmed downtrend, so we gotta wait for our daily close tonight before we can confirm anything! Not financial advice just my opinion!
BINANCE:LINKUSDLong
by JacobR905
Good set-up on ChainLink Crypto Hello Traders, I been viewing it in last couple of days and hoping for a good set-up, well it is happening. A wonderful set-up with RR (Risk-Return) of 2x or more. Price Action in Daily candle sticks chart tells-us that ChainLink has secured a support at 18.20ish and it is ready to rise above 30 level in 60 days. Strategy = Long Position Duration = 60 days Entry = Spot (current rate) or anywhere between 18.50 and 22. Use averaging method. StopLoss = 16.5ish, it should not touch this level because you will notice strong upwards push when prices get close to 18ish levels. Target = 30 and above. In coming days you will see price struggle between buyers and sellers at 23 levels but once it is broken there is not stopping back till it hits 30 and above. Remember to use risk management. Use 1%, 2%, or 3% of total Capital to place trade. Happy trading Disclaimer: Above idea is based on my thoughts and not a recommendation or advise to buy/sell. I strongly recommend you to abide by risk management policy laid down by your country's' regulatory board.
Long
by HerschelleGirnari
1
LINK🔗 triangle breakoutIt's has been long time since I posted last Chainlink idea... 👇 But now here comes another one >> LINK 🔗 is holding well even in this weak market recently. Price seems to be ready to break up this triangle 📐 and If succesful I think there is chance for run to 30.9 and even higher. I'm already in, but one can set the BUY LIMIT order to catch the possible pullback. As usually we need BTC to stay stable (or even go up) to not spoil the party. Going with lower size as markets are shaky. ENTRY : local high @ 26.37 STOPLOSS (TP) : local low @ 25.08 TARGET (TP) : height of the triangle projected from midpoint of the local range (BUY LIMIT - SL) @ 30.9 REWARD RISK RATIO (RRR) : 3.5 INVALIDATION : when SL level hit Check my other stuff in related ideas. Please like👍, comment🗣️, follow me✒️, enjoy📺! ⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
Long
by bizmark