ChainLink (LINK) - Crazy cup & handle complete - time to moon?
Just look at this beautiful cup. Even the handle has been formed. In theory, we can get ready for a cup & handle trade. If we break through the "coffee" line, we can expect the size of the handle to be added up to that level. That's kinda insane.
In the meanwhile, we are seeing that on the 4hourly chart, there is still some downward pressure first: you can see this in the RSI, the MACD, and the small green trend channel where resistance is pushing price down for the moment.
Looking at a longer timeframe, this could be an incredibly beautiful cup & handle bursting to the moon. That's of course not the only scenario. Yet, I'm placing some buy orders around the 5600 sat level, and, I've been in this trade ever since my previous post on Chainlink, where I compared it to the dollar:
Link - Flirting with a crazy break-out (250% potential) (I also highlighted the cup & handle versus Bitcoin in that post)
I'm up around 100% there, but I'm buying some more. This is a project with a lot of nice yet secret stuff going on (you can find some things in reddit groups etc.) Moreover, tomorrow LINK supposedly will announce the launch of its test net, which could provide the pump we need.
LINK chart versus the dollar, today:
Link versus Bitcoin:
- Stop loss around the 5213-ish Fibonacci line, or somewhat higher close to the trend channel base (according to your risk appetite)
- Targets can be set near the upper Fibonacci lines (keep it simple).
- And keep a stash that can moon.
In the meanwhile, we are seeing that on the 4hourly chart, there is still some downward pressure first: you can see this in the RSI, the MACD, and the small green trend channel where resistance is pushing price down for the moment.
Looking at a longer timeframe, this could be an incredibly beautiful cup & handle bursting to the moon. That's of course not the only scenario. Yet, I'm placing some buy orders around the 5600 sat level, and, I've been in this trade ever since my previous post on Chainlink, where I compared it to the dollar:
Link - Flirting with a crazy break-out (250% potential) (I also highlighted the cup & handle versus Bitcoin in that post)
I'm up around 100% there, but I'm buying some more. This is a project with a lot of nice yet secret stuff going on (you can find some things in reddit groups etc.) Moreover, tomorrow LINK supposedly will announce the launch of its test net, which could provide the pump we need.
LINK chart versus the dollar, today:
Link versus Bitcoin:
- Stop loss around the 5213-ish Fibonacci line, or somewhat higher close to the trend channel base (according to your risk appetite)
- Targets can be set near the upper Fibonacci lines (keep it simple).
- And keep a stash that can moon.
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