✴️ Chainlink vs Uniswap (Consolidation Phase Revisited)Ok, here we go again.
We just looked at the "consolidation phase" or accumulation on the UNIUSDT chart.
I went through the whole process of explaining the market cycles and how a bullish wave follows the current consolidation phase.
Now we turn our attention towards Chainlink, confirmation is found here of what I just shared.
I am keeping this very simple because truth tends to hide in simplicity.
For LINKUSDT, the phase where whales accumulate in preparation for the next bull-market happened between May 2022 and September 2023, in October 2023 the consolidation box/range/pattern is broken and the new trend is confirmed.
Here is Chainlink weekly (long-term) without the logarithmic scale, notice that the entire accumulation phase can be considered "flat", sideways price action when taking into account the bigger picture:
Notice how in July 2023 the highest volume weekly came in since June 2022, giving us a clue that the breakout would happen to the upside.
Here you can confirm that the consolidation phase leads to a new bullish wave.
You can check the Uniswap trade idea in the 'related ideas' below for more.
Thank you for reading.
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Namaste.