Long

LINK: Chainlink Next Wave Up?

I'm not a short term trader, but Chainlink has potentially finished a 3 wave correction at the previously monthly open + 1:1 trend based fib extension @ $13.54. Additionally, Chainlink is holding the 50 Daily Moving Orange in Orange for the 1st time as support since late March. As stated in previous cryptocurrency posts, things are getting really spicy and interesting in crypto!

Next important pivots for Chainlink to break is at $15.99 and the 1.618 white trend based fib extension at $18.56.

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LOL

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Just like TAO/BTC, LINK/BTC is also trading in a bullish descending channel

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BANG! Next short term targets: 200 DMA in Red & 0.5 blue fib @ $17.68, and white 1.618 trend based fib extension and blue 2.272 fibbonaci retracement @ $18.562

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Chainlink getting rejected by the area in the note above. Updated Support Levels: 0.382 blue fib & 1:1 white trend based fib extension @ $15.878. A sustained break below $15.878, LINK is most likely going to test $14.423 - $14.879 (2 Golden Windows, blue 0.382 fib, and 4HR 200MA.

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Nice bounce off the blue 0.618 fib @ $14.879. In order to start flipping short term bullish, Sunday's high needs to get taken out @ $16.404

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LTF Analysis, 5 Wave Move up followed by a 3 wave pull back into the 0.618-0.786 fib support. Could be next wave up. Invalidation of short term bullishness is a break below $14.851. That would most likely send Chainlink to $14.424

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Good reaction to support! Lol

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LINK Price most likely going to test at least $14.424. Last opportunity to top up is on the horizon imo

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Last few hours, alt coins are pumping. It is possible that the WXY double zig morphed into an ABC flat structure. With Ethereum Dominance pumping over 42% and counting over the past few weeks as outlined in my Ethereum thread, the alt coin season most people are convinced will never happen is happening right before everyones eyes

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Quick EW update on Chainlink. The correction Wave C (White) of Wave 2 (Orange) should be ending between $11.42 and $13.47. Once this correction is over, we should be targeting new all time highs. Ill make a new thread once I get confirmation that the correction is over. In the short term, I expect a dip into the blue fibonacci support area between $11.42 and $13.47.

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