As an update to the post below, this post outlines a trend LINKBTC has respected for almost a year.
Bears would like a break down from this support zone entirely, while bulls will want to see a rebound sometime soon, or even a short consolidation period above 23k sats at the minimum.
In the bullish case, a bet on macro trend continuation following a 40W mean reversion does seem somewhat logical, as previous 40W mean reversions resulted in a series of new ATH's in rapid succession.
In the bearish case, you can see price decline slowly like a popped bubble.
This is also a pivotal moment for FA, with Oracle announcing their Chainlinked startups on Tuesday. As long as the project maintains interest as it has been doing, I personally don't see Chainlink going away.
In the case of macro trend continuation, I'm will continue to see if my second idea linked below plays out.
Good luck!
Twitter: twitter.com/CoinRepoMan
Bears would like a break down from this support zone entirely, while bulls will want to see a rebound sometime soon, or even a short consolidation period above 23k sats at the minimum.
In the bullish case, a bet on macro trend continuation following a 40W mean reversion does seem somewhat logical, as previous 40W mean reversions resulted in a series of new ATH's in rapid succession.
In the bearish case, you can see price decline slowly like a popped bubble.
This is also a pivotal moment for FA, with Oracle announcing their Chainlinked startups on Tuesday. As long as the project maintains interest as it has been doing, I personally don't see Chainlink going away.
In the case of macro trend continuation, I'm will continue to see if my second idea linked below plays out.
Good luck!
Twitter: twitter.com/CoinRepoMan
Comment:
Bollinger Bands are dynamic! Remember to update the chart yourself and see where these bands are now.
Comment:
Additionally, a lower move into this range would not entirely nullify the bullish cup and handle pattern many think to be in play.
Comment:
LINK remains resting on Pivot 2. Bulls need volume
Comment:
Pivot 2 held successfully
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