Down 90% from ATH, LINK is finding support in the golden pocket ratio ranging from $4.17-$5.71. I believe crypto is an accumulation range similar to last summer. Whilst I doubt LINK is going to make a new ATH, it's about the percentage point gains for me, and not the price of the coin itself.
Note
On the monthly time frame, LINK is very close to getting a monthly buy signal. Yellow VWAP line needs to poke its head above 0. Currently at -6.2. Bitcoin is at -14.87. Hence, I think crypto will be range trading for awhile.
Note
This is Bitcoin's cipher B on the monthly time frame. It's also interesting to note that the yellow VWAP line is forming higher lows on a lot of alt coins whereas bitcoin seems to be forming lower lows. Thus, I believe many alts are better positioned for a large bounce compared to bitcoin.
Note
LINK one of the laggards during this crypto rally. Tagging VAH now retesting VPOC and monthly VWAP. Should bitcoin retest ~$20,000, VAL should be an optimal entry
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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.