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ChainLink / Bitcoin

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LINKBTC trade ideas

LINKBTC Potential to Drop Near TermIn the 2d and 3d timeframes, the LINKBTC pair looks quite overextended. Especially in the 3d where the Green Line is significantly higher than the White Energy, and the Blue LSMA at close to the 100 level. This usually results in a sharp fall of the Green Line to the 50 level which may happen anytime. In the 2d timeframe, the Green Line has also turned down and crossed the Red RSI, indicating downward pressure. The Blue LSMA is also at a high level, indicating that a pullback may soon occur. The first support for this pullback should be the 2d Yellow Basis, currently around 0.00075. If we fall further, then the next support will be the 3d Yellow Basis, currently at 0.00069. Take note that since this is the near term timeframe, the pullback may take some time to occur. The Yellow Basis value will also increase as new candles form. My estimate is a pullback to 0.0008 minimum, corresponding to the Green Trendline of my Pitchfork.
by IvanYG
as Ethereum moves it creates potential for ChainlinkLINK is showing room for huge improvement. I am still waiting for the day when these useless projects lose all support and money is used to support real projects instead of just pump N dumping. We aren't in that mindset yet but right now BTC is losing some dominance and Ethereum is snatching it up. Which in turn is opportunity for good ERC20 coins to grab traction as well. LINK is great because the more Ethereum network is used the more smart contracts will be needed. Which puts LINK at a good buy fundamentally. LInk's trend lines are pretty stable for an altcoin and is currently on a bull run, with every other coin on the market. I think LINK has higher potential than most and can easily make it a 50B market cap. It still may take some time for BTC to really give up some of its dominance but for the nearer future I believe LINK can break my two heavy resistance lines and turn them into supports.
Long
by Priddy23