Chainlink is in for more losses before returning to new ATH

Even though this is the daily chart as we can see on the weekly Chainklink seems to be making a cup and handle formation. This being the daily chart my drawing shows the point of capitulation we need to arrive at in order to have an upwards trend moving forward. This could take a couple of weeks to accomplish. I am estimating the bottom to be somewhere around the upwards EMA of 36,000 SATS. I do believe LINK Coin has big things in store for it. There is suppose to be a big meeting happening this evening May 5th and TEZOS just said they are going to utilize LINK for their oracle needs. We can look forward to Chainlink staking in the future as well.