Data:
RSI - 59
Stochastic RSI < 20 level, trending up
Fear&Greed: 88
HeatMap Risk level: 35%
Chainlink has been one of the best outperforming Bitcoin assets over recent years. It's one of a few that has been growing exponentially against Bitcoin and it seems like 300 daily moving average has been acting as support on LINK/BTC chart.
Interpretation:
Classic technicals shows that Link is in neutral to slightly bullish territory. However from HeatMap Risk Metric above we can see LINK is undervalued in Bitcoin valuation at that moment. What we want to see is Bitcoin's volatility going down (consolidation) to allow investors gain more confidence about altcoins market and make use of LINK's strong macro trend against Bitcoin.
III DISCLAIMER: THIS IS NOT A FINANCIAL ADVICE III
RSI - 59
Stochastic RSI < 20 level, trending up
Fear&Greed: 88
HeatMap Risk level: 35%
Interpretation:
Classic technicals shows that Link is in neutral to slightly bullish territory. However from HeatMap Risk Metric above we can see LINK is undervalued in Bitcoin valuation at that moment. What we want to see is Bitcoin's volatility going down (consolidation) to allow investors gain more confidence about altcoins market and make use of LINK's strong macro trend against Bitcoin.
III DISCLAIMER: THIS IS NOT A FINANCIAL ADVICE III