Chainlink analysis, where i think it is heading. UPDATED!

Hey Crypto friends!

CHAINLINK!!! Oh wow have i been happy with my investment thus far, The coin has a lot going for it that's for sure, fundamentally and technically.

What got me into this coin? Well let me show you.


Back in December, i noticed this triangle forming. This technically is a bullish consolidation pattern after a big move. So i bought some around the $2 mark. 

I wasn't expecting it to break out as strongly as it did, i thought we might see some consolidation around the top of the triangle.

Anyway, let me show you what i am seeing here -


In this type of pattern, the bullflag, a measured move can be drawn. By taking the the measurement from the move up and placing it at the breakout point of the triangle. 

That puts Chainlink at a whooping $7 usd a coin. 

However i do expect some resistance at the white horizontal (previous high).

To further validate this move i pulled up my fibonacci extension -


Low and behold the -0.618 sitting right around the $7.13 mark.

This is not financial advise. Just my ideas on where Chainlink is heading.


Happy Trading!


Update - 

As Expected, resistance and previous high. I expect a small consolidation pattern to form and then a break upwards and onwards - 



Trend Line formed. RSI MFI cooling off with hidden bullish divergence on the MFI. The 21 EMA proving very nice support on the 4 hr.


Ascending triangle forming on hourly, Expect this to break up in the next 12-16 hours.

Happy Trading!!


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Cryptocurrency trading tips and tricks
Cryptocurrency trading tips and tricks

This blog is all about trading, after over 2 years of trading crypto i thought i would share my experience and knowledge in the hopes that others can benefit from it!

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