[LINK] Possible retracement before Bull-run continuation
Chainlink has been a slow-mover in this bullrun and has demonstrated a big dependence of BTC : sluggish upward movements and strong dumps/recoveries.
Keep in mind that BTC has almost followed a copy-paste trend from BTC 2017 bullrun. There is a possible correction around 60k USD levels with historic-references of -30% retracements. Alts dump harder and Link has not shown any exception.
Chainlink has also performed poor in volume against other other Top 15 cryptocurrencies in market cap. There is simply no impulse or hype to continue a harder pump.
Unless major news like Arbitrum or staking are released, Chainlink will have a likely strong correction to previous ATH levels near $20 with quick bounce recovery trends. This would happen when BTC retraces again.
Keep in mind that BTC has almost followed a copy-paste trend from BTC 2017 bullrun. There is a possible correction around 60k USD levels with historic-references of -30% retracements. Alts dump harder and Link has not shown any exception.
Chainlink has also performed poor in volume against other other Top 15 cryptocurrencies in market cap. There is simply no impulse or hype to continue a harder pump.
Unless major news like Arbitrum or staking are released, Chainlink will have a likely strong correction to previous ATH levels near $20 with quick bounce recovery trends. This would happen when BTC retraces again.
Nota
Comment: Link reached nearly my target pretty quick. The idea is that Bitcoin would correct near 42k support and Link would follow to $20 which it did but in a very faster way than expected.I still think Bitcoin can keep going down and touch
42K which would make Link test $20, but not for sure. If BTC consolidates, it can give incentive to alts to go up significantly, including Link.I would expect a consolidation for now with several retests between $31 to $20
If you are on HODL mode, there is really no motive to sell.
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