LINK - 5 Year Continuous Macro Uptrend

١٠ فبراير ٢٠٢٢

This was the chart I found that went back the furthest. When in Log Scale, you can see above that Chainlink has been in a 5 year continuous uptrend. Notice there have been several times where the channel was broken, but as we know in technical analysis, it is not the initial breakdown that matters, but the follow through price action. As you can see, the follow through price action every single time has lead to almost-immediate reentry to the channel.

I believe that Chainlink is starting the next wave to the top of this channel, a wave that would put Chainlink at ATHs close to the heartline at the middle of the channel. Heading to the top of the channel would put us somewhere in the area of $120 - $ 195.

Note that this is a very long term HODL play, and it is actually too long for my tastes, as I do not HODL Chainlink.

٢٩ مارس ٢٠٢٢

ملاحظة

Wow, after almost 6 weeks after having broken down from the channel, LINK is re-entering the channel as we speak. This is a major achievement, and like the person I most view as a 'mentor', Mitch Ray, who's patreon group changed my trading life, always says "it's not the breakdown or breakout that matters, it's the follow through price action that confirms the break of the trend".

This is not a trade that I am personally in, but LINK finally stands on the cusp of being able to do something truly incredible, reaching a minimum of $147 at the top of the channel. To those of you who have held on for years, or since last year's LINK pump, you may soon find glory. Good luck to you.