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LINKBTC

LINK/BTC: Imminent Breakout Analysis - 1D, 1HIn this post, I'll be providing an analysis on Chainlink (LINK), shedding light on its daily and hourly chart through technical analysis. Daily Chart Analysis - To begin with, the daily chart is on the left, and the hourly on the right - The daily chart demonstrates that prices are trading within a descending channel, forming lower highs and lower lows - The Relative Strength Index (RSI) is at neutral levels, showing signs of a potential breakout - The Moving Average Convergence Divergence (MACD) is forming a potential death cross, but has not provided confirmation yet - We can interpret the current setup as a consolidation phase of a bullish flag pattern - Should we see prices break through the upper channel resistance, we could potentially expect another leg up to 0.002btc Hourly Chart Analysis - Zooming in on the hourly, we see clearer signs of bullishness - Prices are forming an ascending triangle pattern, in which the tops of the pattern are rejected at 0.000894 btc levels, while higher lows are formed - The RSI is also in an uptrend, forming higher lows as a sign of momentum building up - Based on the ascending triangle pattern, we can count Elliott triangle waves (ABCDE) - This wave count shows that a breakout through the triangle pattern is very imminent - The 100 Simple Moving Average (SMA) on the hourly chart is a good reference of support/resistance zones. You can check out my other analysis on Waves (WAVES) which had a very similar setup: an ascending triangle within a descending parallel channel. Conclusion Chainlink seems like it's headed to retest previous highs as indicators and bullish pattern setups demonstrate potentiality for a breakout. However as always, don't predict the market. Take it by levels, and play by probabilities. If you like this analysis, please make sure to like the post, and follow for more quality content! I would also appreciate it if you could leave a comment below with some original insight.
Long
by Michael_Wang_Official
2
CHAINLINK BREAKOUT OF DESCENDING CHANNEL!I Would Like To Apologize To People Who Are Waiting For LINK Updates, Been Busy This Past Couple Of Days. But Here Is An Update! CHAINLINK EXPECTED TO BREAKOUT OF DESCENDING CHANNEL! - We Got Rejected Multiple Times But Hear Me Out! LAST WEEK: We Did Mention A Upward Movement And Sideways Action Of Link, Which It Did! NOW >> I Expect LINK To Breakout Of This Channel, Nothing Significant For Price Action, BUT We Have Established A New Trading Range! (It Wont Be Long Til LINK Decides Which Way To Go) But At Least We Got A TR --- I Am Waiting For Confirmations Before Entering A Position Here. LET ME KNOW WHAT YOU THINK! 🧐 💡 IF YOU LIKE MY IDEA, PLEASE HELP AND SUPPORT MY CHANNEL BY HITTING THE THUMBS UP, LEAVING A COMMENT AND FOLLOWING 💯 *You are Welcome to Request Chart Analysis at Anytime! Simply Comment Down Below or DM Me :) ```````````````````````````````````` ⚠ DISCLAIMER: Trading Involves High Risk! I Share My Trading Positions And Ideas With You For FREE BUT Please Be Responsible For All Your Actions. This Chart is Used for Educational Purposes Only And NOT A Recommendation to Buy or Sell the Asset.
BINANCE:LINKUSD
by crypt0analyst_
4