Chainlink: Bearish Pattern and Divergence 4H (Apr. 27)X FORCE GLOBAL ANALYSIS:
In this analysis, we explore the extremely bearish technicals demonstrated in Chainlink's (LINK) short term charts.
Technical Analysis
- The first thing we can spot is a bearish divergence, in which prices create higher highs and indicators create lower highs
- The Relative Strength Index (RSI) shows a clear lack in strength with lower highs
- The Moving Average Convergence Divergence (MACD) also shows lack of momentum with lower highs
- We can see a textbook ascending wedge pattern, which is interpreted as a bearish reversal pattern in an uptrend
- Counting Elliott Triangle Waves (ABCDE), we can see that wave E has completed its formation, and we can expect a breakdown
- Bollinger bands are narrowing, which is a sign of a potentially big move.
What We Believe
Based on the bearish technicals suggested, we believe that Chainlink's bearish probabilities are extremely high for the immediate term.
Trade Safe.
Chainlinkbtc
Correção ou reversão?Como eu havia postando antes a CHAIN iria encarar resistência entre 0,00052 e 0,00053. Meu palpite é que até o dia 01 de maio a gente vá vê ela andando meio de lado até que se confirme essa tendência, exceto se ela carimbar o ponto mais alto das linhas que marquei, em uma "esguichada" um pouco acima de 0,00053 antes de uma correção forte. Se esse segundo padrão se confirmar até depois de domingo, eu compraria meu acento nesse foguete e me prepararia pra bom surf. Alusões a parte, a alta do BTC hoje foi uma bom sinal pra esse segundo cenário, haja vista que a CHAIN tem acompanhado o mesmo padrão gráfico do BTC a meses, com um pequeno delay, mas com um padrão muito parecido.
Important and strong support areaLINKBTC is about to reach an important and strong support area on 31130 sat.
as you can see, this area is the bottom of the ascending channel and also 0.718 fibo retracement level. so it is very important and strong.
I think the price of LINKBTC will drop to this area in the short term and then start to rise.
please like and comment if you agree on this. TNX
LINKBTC Mark UpThis Chainlink crypto is in a unique spot at the moment.
Bias - Bullish
Price is currently hovering above multiple Order Blocks that are stacked within and on top of each other. This is a thing of patience, allowing certain things to take place before making a move to risk your capital. Price normally leave clues (ALWAYS look left), and the times you find yourself questioning what's transpiring is when you should take a gotdamn walk around your neighborhood with Sparky. To hell with "FOMO"!!!
Confluence (3 or more):
1. Price entered bullish Order Block March 16, '20.
2. Price Action moved into Order Block in strong fashion. Profit Margin.
3. Price is printing HHs & HLs. Support.
4. Multiple Order Blocks are stacked in bull's favor.
5. Upper Order Block (0.000499.30 - 0.00052647) was breached. Precursor
6. Candle bodies are getting smaller. Compression.
I wouldn't be surprised to see the bears push price further down before it actually start heading further up. If that happens then of course that diagonal support will be broken, but I would not look for any short opportunities in that area. Patience & steady hands is everything! We shall see.
LINKUSD: Despite the fall still looks goodDespite a strong BTC drop LINKUSD still doesn't look bad - pushing off support it's now floating around.
Taking into account the weakness of the BTC, I consider the area as $3.8 is attractive for longs and $4.45 - for shorts.
Generally depends on BTC - will we get a strong pullback to fill the gap in the near future or not.
Information is just for educational purposes, never financial advice. Always do your own research.
LINK ON SALE - 35% OFF Early AprilThis is a weekly chart on BINANCE:LINKBTC
What I expect is for Link to have a bad March and get back down to its previous resistance which was hard to break for 32 weeks and confirm it as support. It might spend another month in this region for accumulation and then go back up.
I personally would be accumulating LINK for sure in this area of 0.00031 and I expect this target to be reached early/mid April.
I have made also some projections on how will the 21 EMA and the 55 EMA move and you can see they will provide nice support in the same area as well around that time.
Possible trendline on the Stoch is also formed and another thing to watch would be the RSI levels of 45-50.
The hottest crypto on the market!!!Chainlink is the crypto with most gains and most powerful chart !
LINK broke out of the ascending triangle on 12.02. and confirmed the breakout on the 23.02.
If LINK can break it´s All Time High wich is just a few satoshis away , I can see LINK going to the moon from here.It might not seem as a good idea to buy LINK now, but the fundamentals of LINK are heavy and the community very strong!
There are NO more level of resistance coming!
leave a like ?
* no financial advise
LINK.BTC (Y20.P2.E4).Just goodHi All,
This is one asset that continues to perform and hence worth going long, until not too.
As you can see, against BTC it has completed the 5 impulse move with an a ascending macro triangle and hence the upper bounds like in LINK USD\T has no boundaries as yet and is unknown territory.
If one was to speculate based on the height of the triangle, that will be the macro target in the coming year.
If you believe like me that next year and onwards will be the big bull market moves, then LINK will have some story to tell.
I have a sizeable holding of LINK and I"m pissed that I have not watched it hit 3.3 level to buy more in.
For now, I have the next fib. extension level as its target 4.45 and while BTC moves sideways for some time (likely) fluctuating and testing the 8400 support and then at times the 8200 support, LINK will keep performing.
LINK chart
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari
(for my reference > macro.chart)
Previous posts
CHAINLINK is the BEST coin to TRADEThis is truly one for the books!
Over my years trading crypto, I have never come across something that follows TA so beautifully.
I've pinpointed all the classical chart patterns, along with pattern reversals, double bottoms, bullish and bearish divergence, supports and so on...
Try saying technical analysis doesn't exist after seeing this.
Hey everyone, if you enjoyed this please give it a like! thanks for your support, more to come :)
This isn't financial advice, please do your own research before opening a position.
LINK.BTC (Y20.P2.E1).Macro.PotentialHi All,
A few words required.
a) I think BTC big move is up after a quick wick to the bottom to cover the CME gap, at this point
b) ChainLink has a nice bullish formation \ potential, so do many ALTS.
c) 200 EMA acting as support
d) MACD has convergence with price
Good luck with your trading strategy.
Please don't forget to give me a tick\like, as I would appreciate it.
Regards,
S.Sari /CryptoProspa
(for my reference > Macro.charts)
LINK - #CHAINLINK - $9.5 long term target in $LINK
$9.5 long term target in $LINK
Short term:
We're patiently waiting on +$8
That level will be your golden opportunity for a move
Moving below $1.97 would invalidate the short term count and give us a bearish warning.
It also doesn't help that the chart I used (binance) differs from the current one (coinbase). Fucking scam wicks! And that's not the first time that I see that on binance. But we'll see how it goes... Only thing that matters is that we don't lose the Sep low! IMO
I expect one more push before we retrace again. But don't worry, this is normal. Patience!
$LINK #CRYPTO #CHAINLINK