Link - Trendline is breaking out! +60% right now
Link looks pretty strong in the immediate short term, but for the long term I am still very bearish and I will tell you why in this analysis.
We have a huge descending parallel channel on the daily chart and there are still no signs of a trend reversal. The first is that we at least need to break up this channel to be more confident.
Also, my Elliott Wave analysis suggests that this downtrend is incomplete and we can definitely expect 2 USDT per coin next year.
But for the immediate short term, we have a nice local ascending triangle - bullish pattern , and also the main yellow trendline has been destroyed by the bulls recently.
+60% profit is possible and the previous wave (1) is a strong resistance, which can act as a reversal point in the future.
If you really want to buy something in the short term, then the LINK coin is a great choice. But do not forget that the main trend is a downtrend, so take profit very soon.
We don't know what the expected duration of this trade is. It can literally pump in a single week, or it can take 2 months to reach 13.3 USDT.
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LINKUSD
Link Short Set Up 🔻📉LINKUSD 4HR SHORT
LINK is hitting bigger resistance at multiple trend lines with the possibility of a triple top on the LTF
Entry 1: $7.99-8.15
Target 1: $7.05
Target 2: $6.80
Stop Loss: 2-4% based on your own risk tolerance.
Consider moving stop loss to break even after the trade becomes in the money 3-5% to minimize risk.
If a wick stops you out simply wait to see if we confirm back below the trend line before re-entering.
Never chase a trade or force it if the market becomes choppy.
Never trade with out a stop loss, especially on a short.
LINK: positive newsNegative market sentiment continued to shape the financial markets, where the price of LINK was pushed to the downside, to the level of $6.5 at the beginning of the week. Regardless of this drop in the price, the positive news is that the price of the coin soon reverted back to the levels from the end of the previous week. It shows that the market still has positive sentiment for this coin.
RSI was moving between 44 and 55, showing that the market continues to be oriented toward the overbought side, regardless of the modest drop in the price at the beginning of the week. Moving averages are slowing with their convergence, but still they continue to move in this direction. The golden cross is still not in store, but it might be in the future.
During the last three weeks charts are pointing at the long term resistance line at $9.0 for LINK. It still continues, considering that the coin showed that there are not enough selling orders which might push the coin clearly below the $7.0 support line. At the beginning of the week ahead LINK will clearly test $8.0 next resistance, with high probability that it might head further to $9.0 long term resistance.
Chainlink LINK Bearish SentimentFriday the S&P reached its 52 week low, $3636. There is a strong correlation between the S&P and the crypto world. Many stock investors diversified their portfolio into cryptos, especially in BTC Bitcoin and ETH Ethereum .
With a bearish stock market in the worst month for stocks and cryptos, i expect most of the cryptocurrencies to trade lower this week.
LINK/USDT short
Entry Range: $7.50 -8.00
Take Profit 1: $6.40
Take Profit 2: $5.10
Take Profit 3: $4.60
Stop Loss: $8.90
Link Elliott Wave count and trade ideas. Getting the video rig back up and getting used to things again so apologies for some of the audio quirks. Working the issue.
That aside still think some fun Elliott Wave info and some nice potential trade setups and things I am looking out for.
If it inspires you or is helpful, hook me up with a boost, a follow and check out my signature more content. Cheers!
Sept 22nd - LINK - Possible Long if breaks triangle1D tf
Looking to see if LINK will break the descending trendline
Can enter now at 6.80 - 7.10 area with a SL at 6.18
OR
can wait for price to break and hold at the descending trendline at around resistance at Target 1 (7.622 area)
Target 1 = 7.622 area
Target 2 = 9.530
Target 3 = 12.287
Chainlink (LINK) - September 21Hello?
Traders, nice to meet you.
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Link is a coin that belongs to all themes formed in the coin market.
Therefore, I think that it is a coin that can increase the number of coins in the medium and long term.
(LinkUSDT 1W chart)
It is important to see if it can rise to 11.976-15.374.
To do this, you need to make sure you can be supported near 6.7.
(1D chart)
1st resistance: 8.290-8.822
2nd resistance: 11.064
The 6.7-7.411 section is the section where the HA-Low indicators are leveled.
Therefore, if you are supported in this section, it is expected to rise.
If you fall below 6.7, you need to check the upside trend line (1) to touch and rise nearby.
If not, it is expected to fall around 4.976.
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** All descriptions do not guarantee losses in investments for reference.
** If you share this chart, you can use the indicators normally.
** MRHAB-T indicators include indicators that display support and resistance points.
** Background color of Long/Short-S indicators: RSI overreagy, overlooked section mark
** Background color of CCI -C indicators: When the short -term CCI line is -100 or less, when it is +100 or more,
** OBV indicators have rewritten by applying the formula to the indicators of OH92. (Thank you for this.)
(Short -term STOP Loss is a point where you can preserve or enter additional gains and losses by split transactions. It is a short -term investment perspective.)
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Chainlink: Partial Decline With Hidden Bullish DivergenceLink several weeks back bearishly reversed at the top of the local range which lined up with the PCZ of a Bearish Bat and the target i had set for it was the 50-61.8% Retracement because there was a higher probability that Chainlink would reverse Bullishly there to begin to attempt a Partial-Decline.
We've since begun to reverse at that level and are showing Hidden Bullish Divergence on both the MACD and RSI. One would be lead to believe that this is the start.
However as of right now it's unconfirmed until it touches the top of the range again; But we have enough info here to try to front-run the test of the range top and get a better entry today.
$LINK | Short Ride UpLINKUSD has broken the down trend on the DAILY and looks to repeat similar patterns in June and August, with a major difference being that it has also cleared the 50EMA as well as the beginning of a 13/48 EMA cross happening. I think a good ride to the next resistance area will take and a possibility of break through. I placed a LONG BUY for LINKUSD and placed the stop loss below the 50EMA as it has respected this since the 13/48 cross.
Here's my numbers:
Entry: $8.13
Take Profit: $8.55
Stop Loss: $7.72