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ChainLink / Bitcoin

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LINKBTC trade ideas

LINK/BTC - major move ahead | falling wedge close to breakoutLINK/BTC is moving closer to the tip of a big falling wedge which formed over the past two months which meant it under-performed against most bulls expectations and ranged between 26$-32$ during most of that time which made for a frustrating experience for bulls while the rest of the market boomed. Now the falling wedge is nearly completed and the closer it moves to the tip the more likely and volatile the breakout becomes. 47k / the mid-40k sats range has acted as strong support so far as it was prior resistance of the previous low which formed between December and January. We can see bullish RSI divergence on most time frames since the low on the 15th of march and if LINK manages to bounce from here it will also have formed a double bottom. There is still the possibility of it dropping down into the 44-46k sats range to test the lower trend line and 0.786 fib-level again while keeping the setup intact so if you decide to use a stop loss keep that in mind and use it as a buying opportunity. Buy zone: 44k-52k / tip of the falling wedge or re-test of the upper trend line after breakout (see chart) Targets: 62-66k / 85k, targets higher than that will have to be evaluated once there's more info on the chart and I'll post an update if that happens Fundamentally Chainlink is one of the strongest projects on the market and every solid long-term portfolio should include at least a bit of LINK in it in my opinion. Chainlink is one of the 5 new coins included in Grayscale's Trust and compared to all the other coins they added which ran up to 50-100%+ since the news hit, LINK hasn't had a proper pump yet which makes me even more bullish for the future and confident that we're currently presented with a good buying opportunity. Best of luck and let me know what you think!
Long
by Wolfy_
2
LINKBTC (LINK) – Potential 232% gainsLong term swing trade BUY: 0.00051 – 0.00056 TARGETS: 1) 0.00070272 2) 0.00085858 3) 0.00100595 4) 0.00127143 5) 0.00149990 6) 0.0169379 STOP: When a 4h candle closes below 0.00043 Rationale: -Price has broken out of and retested a long term diagonal resistance (bullish) -EMAs are turning up and have crossed over already on lower timeframes (bullish) This is a long term swing trade, do not expect instant results. It will take time to play out. Take profits on the way up at the targets. You can rebuy and add more on the dips. Your risk, your reward. This is not financial advice. Happy trading.
Long
by ForgeTrades