Since October 2022 I have been getting things wrong with chainlink a lot , pretty much the only coin where I missed the target and time over and over . Most of the time its easier to trade Litecoin because it actually has organic movement.
Chainlink has not been moving organically in my opinion , there is no historical price movement that we can compare this sideways movement for over 400 days.
For me atleast it was looking like this was some sort of wyckoff accumulation period and we just had a spring event.
In my previous TA I tried to give traders a heads up that this was highly likely a coordinated move to get Chainlink at much lower prices.
It was very clear to me that this was the case just based on the wave of news and timing of the flash crash structure that came shortly after.
Its the same playbook over and over if its not a ETF to bring price up , its SEC hammer to bring it down or "China ban" or Elon musk selling btc holdings for tesla etc etc you get the picture.
So where are we now , still under the 1/2 Gann Fan , at 6.8 dollars Chainlink will be over the 1/2 Gann Fann , lets see if its start closing above it that would signal a big change for LINK in terms of market structure.
We also have this very nice support line here which until now I didn't notice , seems to be bouncing off this support for a long time.
As I posted in my previous post of LINK , my indicators have been flashing bullish divergence and 5 wave counts across the board.
This EW count suggests wave 5 is in and target is just under 8/1 Gann Fan , very interesting.
and finally we have the most important Chainlink chart , the LINK/BTC dominance last LINK TA I talked about potential hidden bullish divergence if it bounced on this trendline.
We got that bounce.
So to conclude here , never sell your Chainlink at these levels , there is clearly big things happening in the background , when a coin has coordinated attacks to dump price and goes into some sort of Wyckoff accumulation its extremely bullish long term it might not seem that way short term and its been a long road for LINK holders but the play in a bear/sideways market is always to load up on fundamentals .
Chainlink has not been moving organically in my opinion , there is no historical price movement that we can compare this sideways movement for over 400 days.
In my previous TA I tried to give traders a heads up that this was highly likely a coordinated move to get Chainlink at much lower prices.
It was very clear to me that this was the case just based on the wave of news and timing of the flash crash structure that came shortly after.
So where are we now , still under the 1/2 Gann Fan , at 6.8 dollars Chainlink will be over the 1/2 Gann Fann , lets see if its start closing above it that would signal a big change for LINK in terms of market structure.
We also have this very nice support line here which until now I didn't notice , seems to be bouncing off this support for a long time.
As I posted in my previous post of LINK , my indicators have been flashing bullish divergence and 5 wave counts across the board.
and finally we have the most important Chainlink chart , the LINK/BTC dominance last LINK TA I talked about potential hidden bullish divergence if it bounced on this trendline.
So to conclude here , never sell your Chainlink at these levels , there is clearly big things happening in the background , when a coin has coordinated attacks to dump price and goes into some sort of Wyckoff accumulation its extremely bullish long term it might not seem that way short term and its been a long road for LINK holders but the play in a bear/sideways market is always to load up on fundamentals .
Comment:
Chainlink making lower highs on the daily , very bullish , you can see last few times LINK has formed these patterns there were big moves , we are so close to the 1/2 Gann Fan this is going to be very interesting how it plays it .
Comment:
We have been here time and time again in the last 2 years , 1/2 Gann ,
a weekly close above to confirm anything
Comment:
Comment:
I have never seen the histogram of a MACD indicate such divergence before on a monthly for over 12 candles now , even with the move down to 5 the histogram keeps on printing momentum increase .
Comment:
Thats a clean break , now we want to see a weekly close above it , that would be big
Comment:
Things might look the same , we might still be in this massive range , it might look nothing significant has happened but infact the 1/2 Gann Fann has been broken and we closed a weekly above for the first time ever.
Comment:
coming up now to the LINK/BTC resistance that has been there for years also , if we close a monthly above this it would be a big
Comment:
All eyes on the LINK/BTC now for the next big move
expect massive move for LINK if this is broken
Comment:
:)
Comment:
This retest of the LINK/BTC line as support is insanely bullish
big things are coming
Comment:
big update
Telegram Group
t.me/SporiaMembershipbot
t.me/SporiaMembershipbot
