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Chainlinkusd

Chainlink may be approaching a correction at $9.29Chainlink has been on an incredible run as of late, and I’ve been looking for patterns to predict when this may finally reach it’s peak and enter a correction. What I’ve found suggests we may see that peak around $9.29298 . Looking at the 4 hour chart it seems as if the current uptrend is on the 5th wave of a 5 wave Elliot impulse wave pattern. The current trend starts at $4.89293. In order to estimate where this may end, I applied Fibonacci lines such that they line up with support and resistance levels that have already occurred. I came up with the following 5 waves (white lines in the chart): Wave 1 meets resistance at the 0.382 fib line. Wave 2 finds support around the 0.236 fib line. (Here, the chart toggles between using this as support, then resistance, then finally support to head further up as wave 3). Wave 3 meets resistance at the 0.786 fib line. Wave 4 finds support around 0.5. We are currently in wave 5. Wave 5 did show two shooting star candles (bearish) at the 0.786 fib line indicating it was possibly going to hit resistance there, but it seems to have pushed on past. The current 4 hour candle looks to be sitting comfortably above 0.786 and using it as a new support. If this candle closes up, I would expect one last push to the 1.000 fib line which lies around $9.292928. I would then expect a correction to start. There are also wave-in-wave patterns that increase my confidence in this model and I’ve noted these below. (Note, for the overall wave pattern, I have used thick white lines. For the smaller wave-in-wave patterns, I have used thin green lines during the uptrends and thin red lines during the corrections): Within each of wave 1, 3 and 5, we see smaller underlying 12345 Elliot wave patterns. These are marked with thin green lines on the chart. Within waves 2 and 4 we see Elliot correction waves. These are marked with thin red lines. Notably, wave 2 has 5 waves within it, whereas wave 3 has 3 waves within it. This follows and alternating harmonic pattern that can be seen when comparing successive correction lines. In summary, several patterns suggest that we may enter a correction around $9.29298 . We should be watching for candle patterns indicating a possible reversal at that level. This may be an ideal time to sell and protect profits, then wait for an entry point during the ensuing correction before buying more and riding the next wave up.
COINBASE:LINKUSD
by tarbh
2
Chainlink Stairway To Profit Heaven Once a coin breaks its previous ATH (as LINKUSD did recently) and enters 'price discovery mode', traders ride it all the way up, either hodl-ing or scalping (small time-frame swing trading), until price goes 'vertical' (parabolic) and market movers decide to take profits... At that point we typically see a long wick, perhaps followed by an indecision candle (small body with long upper and lower wick). Followed by price decline. Is that what LINKUSD looks like right now? Definitely not. At this point, we expect the stair step progress to continue with LINKUSD looking ready for another leg up.
BINANCE:LINKUSDLong
by Sparkster
2
Link ChatIm not going to speak like all the confident traders making bad calls but this is one way I see it This is another long term way I see it. The big question is. are we hitting 10 bucks or not. We got whale alerts. we got 2020 doing thangs. we got partnerships. we got greed. we got fomo. we got mistakes to learn from. im selling 33 percent at 8.50 15 percent at 9.00 15 percent at 9.40 15 percent at 9.98 and piss the profits I could be using fo taxes that reminds me. today is the last day to get them in. cheers.
BINANCE:LINKUSD
by eriCrypto
ChainLink Update...Still on the Sideline.BINANCE:LINKUSD Still patiently watching Link since my potential short set up idea; A very crude head and shoulders pattern forming at key resistance zone. Trend line could be close to breaking. Before taking any trades i think we need to see some kind of decent move in either direction. Shorting here with so much buying pressure close to our entry doesn't not offer great R:R potential and longing into key resistance does not appeal to me. A substantial break out above it and longing a retest of structure above it does. For now Link is still on my watch list while i keep my fingers away from buy/sell buttons :) For spot buying Chainlink to add to my stack I'd try and stay patient and wait for a retest of low $4 range. My previous potential short;
BINANCE:LINKUSD
by AmpFury
3
Chainlink Preparing To Smash Its ATHSo much can be said about LINKUSD. Current price action is testing a long-term trendline revealing a huge consolidation triangle with the ATH. LINK nailed our target a week ago... ...which set up a tightly coiled spring for another test of the ATH range. Study that chart and imagine all the traders who are eager anticipating a mega break to the upside. Short-term moving averages reveals strong continuation momentum (dependent on bitcoin not taking another surprise distribution nose dive). SparksterSignals is bullish on Chainlink. Chainlink will be added to our platform soon.
BINANCE:LINKUSDLong
by Sparkster
1