Ok that was not the best way to describe what I want to bring forward on this study but it is amazing how similar ChainLink's current bull phase on the 1D timeframe looks to Bitcoin's price action since mid 2017 on the 1W timeframe.
Not only is the candle action (see the shapes) and pressure points (see the arrows) similar but also the MA50 and MA200 periods on both charts behave in the same way. The break of the MA50 signalling a bear move and the support on the MA200 signalling the bottom.
What can this potentially mean for LINKUSD? Maybe nothing but I suggest that we pay close attention to BTCUSD on 1W for pointers on LINK.
Not only is the candle action (see the shapes) and pressure points (see the arrows) similar but also the MA50 and MA200 periods on both charts behave in the same way. The break of the MA50 signalling a bear move and the support on the MA200 signalling the bottom.
What can this potentially mean for LINKUSD? Maybe nothing but I suggest that we pay close attention to BTCUSD on 1W for pointers on LINK.
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
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🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.