Chainlink (LINK) to $48On the above 2-day chart price action has corrected 90% from $52 despite the best efforts from the maxis. Missed my $3 target by a couple of dollars. Now is an excellent moment for long positions. Why?
1) The ‘incredible buy’ signal prints. On the 2-day, don't ignore.
2) Price action resistance breakout.
3) RSI resistance breakout. This is huge. 2 long years of resistance. The number of bulls on Chainlink during this period was incredible. Lesson, RSI resistance in play? DO NOTHING. You must wait for confirmation of a breakout. That is now confirmed.
4) Regular bullish divergence. 11 oscillators are currently bullish divergence across a 2-month period.
5) Lastly the 2-day BTC pair (below). For the last 2 years price action has been printing within a sizeable bull flag. 3 rejections from the upper channel whilst the above RSI resistance has been active. The 4th attempt will likely break through. IF that happens Chainlink will make a 2000% gain against Bitcoin.
Is it possible price action falls further? Sure.
Is it probable? No and no.
Ww
PS: not in this trade, you must ask for updates below, following Ww is not a strategy.
Type: trade
Risk: 6% of portfolio
Timeframe: You know, I’ve no idea.
Return: 500% and if $48 becomes support, we’ll look at it then.
2-day BTC pair
