By identifying swing highs and swing lows, we can identify the appropriate targets.
Chainlink has targets at:
- $36
- $44
- $53
Using these targets and identifying the levels of support and resistance in conjunction, we can identify accumulation zones.
Chainlink accumulation this cycle assuming bullish top:
- $24 - $31.5
Currently, Chainlink is above the accumulation zone, but still under Target 1 and I believe a solid position to buy if below $35, just not a maximized gain.
Chainlink is in a great position right now to surpass target one and make a run to test target 2. The MACD has crossed paths along with neutral buying accumulation in midway, so looking back in history we could be expecting bullish momentum until another cross along the accumulation peak or MACD.
Best case scenario:
- hits target 2 and target 1 becomes support in preparation for the final top of the bull cycle
- sky is the limit by then
Worst case scenario:
- rests in accumulation zone
Be wary of:
- Bitcoin swings
- Panic and emotion selling
Note:
- Chainlink is the turtle, not the bunny
- Slow and steady wins the race...!
Chainlink has targets at:
- $36
- $44
- $53
Using these targets and identifying the levels of support and resistance in conjunction, we can identify accumulation zones.
Chainlink accumulation this cycle assuming bullish top:
- $24 - $31.5
Currently, Chainlink is above the accumulation zone, but still under Target 1 and I believe a solid position to buy if below $35, just not a maximized gain.
Chainlink is in a great position right now to surpass target one and make a run to test target 2. The MACD has crossed paths along with neutral buying accumulation in midway, so looking back in history we could be expecting bullish momentum until another cross along the accumulation peak or MACD.
Best case scenario:
- hits target 2 and target 1 becomes support in preparation for the final top of the bull cycle
- sky is the limit by then
Worst case scenario:
- rests in accumulation zone
Be wary of:
- Bitcoin swings
- Panic and emotion selling
Note:
- Chainlink is the turtle, not the bunny
- Slow and steady wins the race...!
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.
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.