Link is likely targeted $55After Link smoked the 2 targets specified in previous analysis () is still on her way in a nice bullish uptrend channel and she's likely targeted $55 on her channel...
Linktrader
LINKUSD: Buying supportFollowing my plan buying a link here, 75% of my usual trade size. I may go lower, but I think it's just a retest.
Information is just for educational purposes, never financial advice. Always do your own research.
Chainlink 1D -- Bottom Reached. Enter!Disclaimer: LINK has gotten destroyed in sats over the last week. This entire prediction relies on btc not dropping like a rock, so make sure to run a stop loss around 48 cents.
This is an update on my most previous post. I am limited to 3 indicators, and did not save the pitchfork from last time, so it is not perfectly set up (though it is roughly aligned).
I have 3 EMA's: 25d, 50d, 100d. As can be seen, they have been acting as support/resistance quite actively over the last few months for LINKUSD. There's also a distinguishable pattern: the price dumps to the 50d or 100d EMA, consolidates, and then sharply pumps to a higher price. This pattern agrees with my early March prediction that we would cross the line of best fit in mid April (shown by the arrow and large green ellipse).
The reasons why I think the price will bottom at 49 cents:
>This is the longest time above the 49 resistance since the bull run.
>We've witnessed continuous price rise action in the 35 cent to 49 cent range over the last 4 months.
>An S/R flip here would mean that 49 cents is finally conquered, which would make sense after the multiple attempts at doing so.
>Volume looks ready to explode (although this can be interpreted either way).
This setup looks probable. Let's hope for the best.
This setup is from my most previous post, linked below.
STINKY LINKIES REPORT IN! SERGEYS HOOKERS HAVE BEEN FOUNDLINK MARINES REPORT IN!
Nah really though, I think ChainLink is an absolute gem of a coin.
ChainLink is trying to be the first decentralised oracle service running on the Ethereum blockchain with plans to incorporate themselves into every smart contract providing service there is. The reason why this is huge is because it is
1) an oracle
2) a decentralised one at that
The reason why these 2 points are so important is because at the moment smart contracts have no way to actually have contact with any of the outside world, making smart contracts almost solely limited to and onto the blockchain, and secondly a decentralised oracle service, with multiple security features planned for ChainLink, for instance not rewarding the "freeloading" nodes and looking for ways to prevent Sybil attacks etc, makes it, if it actually works, one of the most secure oracle services out there, thus making smart contracts secure as well.
The way I think of it is this.
In the 1850's in Australia, Victoria we had the gold rush. The ones who made bank are 1) the miners who struck gold 2) the guys who provided the pickaxes.
In this case, smart contracts are the gold and ChainLink - if it works, are the picks. IF this coin actually works out and does what it sets out to be in the whitepaper, this coin will literally surge well into the top50 marketcap, without a doubt. BTW this is speculative investing at its finest, I am no financial advisor, don't actually listen to me, be critical an do your own research.
These are partnered with SWIFT and apparently working together to create a decentralised oracle service, it is unknown at this time whether SWIFT will use ChainLink or use their own developed Smart Contract oracle.
Buy: 0.00004594 - 0.00005595
Sell: NEVER! Or if you must 0.00012977 - 0.00013500, or 0.00018229 - 0.00019000
Fundamentals:
Chainlink is releasing their simplified version of the Go Chainlink network by the end of March, but before then Sergey Nazarov - CEO of ChainLink will be attending 2 major conferences, Bitcoin superconference and SXSW conference as the head speakers.
Technicals:
Beautiful cup and handle. Seriously I don't think I've seen a more beautiful cup and handle before. However, I'm more of an Elliot Wave Trader so I'll use that as the basis of my analysis.
Chainlink at the peak of the 5 waves reached a high of around 0.00009819, and retested that high twice. The first impulse wave up had completed and is either nearing end of correction or starting the 3rd supercycle wave up. At current prices, LINK is almost perfectly retraced to the 0.5 and 0.618 regions sitting nicely in between, at its low of the retracement LINK had reached 4000 sats making it just below the 0.618 region. Using fib extensions, I target just above the 1-1 extension because the 3rd wave in elliot wave is often the longest, but never the shortest. That puts it around the 0.00013000 mark, and the final 5th wave at around 0.00018000 mark.
No need to rush into this trade, this coin won't be moving all that much since Mr Nazarov adopts the no news, but when I have news its huge, kind of approach.
BTW I'm still learning TA, so any feedback and criticisms will be greatly appreciated and welcomed.
So go ahead and grill me :)
RSI support unwavering, LINK momentarily stalled Despite the recent blow top, there has been tremendous support and consolidation around a dollar. The RSI has not dipped past support and we are indeed in a bull run.
!. Beat the bots: sooner or later whales will come through and buy the books or conversely sell them all. Volume is low and games may be played with LINK/BTC until the asset is listed liberally.
2. Catalysts: Testnet Mainnet all the nets your caught up in the nets with your head in the (n00bs d0nt) node (; $$$$
Even if bitcoin blooms we will see support. No one will stop the silent swooning of sacks of link.
Late bloomers all bloomers nonetheless
