Cuppa with Chain Link – LINK T.A – Targets, Entries, Big Fib Retrace, All you need to know – Feb 18


Hi friends! Welcome back and I thought
that we would have a quick break and stop in with chain link to see if it
wants a cuppa! So here we are, let’s just dive on into the charts and have a cuppa with Chainlink. That’s lovely. So, here we are and that Chainklink versus the US dollar on the 24-hour chart . looking at it willing finance at a
minute and this is trading view of course and I’ll just have a quick
explanation of the colored lines down below this solid colored lines are
exponential moving averages the dotted lines are simple moving averages and the
yellow is 21 the green is 55 the red is 50 that’s the simple red the yellow ah lovely right so we’re back in the charts
and if you look up above me you can see the price of chain link currently is
four dollars and 44 cents this close this menu over for net and explain
quickly here what these lanes are the seller planes are all exponential moving
averages the dotted ones are simple moving averages that 21 is the yellow 55
is green 100 is blue cyan and the 200 exponential is this purple line as for
the simple within averages the red dotted line is the 50 and the white
dotted lane is the 200 so you can see over here that just where I’m hovering
now we had a cross on the 250 which is the Golden Cross when the 50 crosses to
the upside and that’s a very good thing in terms of an indication of the trend
being very bullish so as we can see we helm really more or less nodes that team
likes mean very bullish recently and it’s had a great rise up in price let’s
just sort of measure it if we can real quick oops so try again
so it’s gone up almost 100% in price since it around this area of the of the
cross happening so that’s really great and and what come here try and figure
out in terms of looking at this chart and where the price could be going next
well this is it against the tether USD on Finance and you can see that there’s
there’s different the way that these these wicks of APRI
it has been different across different exchanges you can see on claim base over
here we’ve got a different all-time high in terms of the in terms of the price
and there’s this work here so if you you can draw a Fibonacci retracement down
here on this and on this time line here and you can see here if I just extend it
right the wheel where where the current prices currently offer in and around is
of course that yellow line denoting the 786 retracement point here so we’ve
don’t really the price is done really really well Boston right through the six
one eight here which is this Green Line and haven’t come up here and been
testing off of this and trying to find whether or not it’s going to operate as
support for us in terms of this overall moving upwards now if we just go back as
well we could also wonder is just before we go away from this to actually if it
will come and retest the six one eight so I wouldn’t really get bearish on this
asset unless I were to drop below that 360 area and praise but I am trying to
see if we’re going to get a higher a little stay and it’s managed to do quite
well and being relatively stable in price with great big wicks going up
either either up and down here and I wonder if this one which came down to
380 was close enough is close enough in terms of sitting in a higher low here on
this upward movement or not so we’re just going back over to bayonets and and
see how in terms of this if you were to draw on a Fibonacci retracement on here
let’s just get one on the go down there and to see there then you’re looking at
a different a different story in terms of where these wicks come in at and of
course the six one eight being closer to sorry at 786 here being closer to rid of
620 it was on the previous chart but however it would get rid of that instead
and look at it on the old-time laws fingers won’t be saying stone a bit
that’s one of course but I’m just drawing it in here and you can see if we
use this particular wick for let’s just use the actual all-time high that we’ve
got so far and based off of the whole time rule so that we’ve got this as a
chart to look at for us to see if there’s anything interesting on the go
and you can see well this came all the way down to where the 620 is on the
other charts and this is the two three six here so we’re really looking to see
if this can be remain invalid or treatment in the sense that
we want the price to remain above this song here or else we’ll be able to look
at this as actual retracement just to give you an example of what that was
like before the previous all-time high you can see you in the price came up
tested off this area and then came back down below this area here that was a
crucial area where you could see that now we’ve got a retracement which is
valid that we can look at and start basing trades off that you can see that
gave a good entry here in a short and aim down here we found support for some
period of time but we knew that we potentially be breaking on down into
those golden pockets on here which ultimately did happen again and and then
after we came up up we were detected off 382 and then underneath there again for
another chunk of potentially for accumulation for this big move up here
now the question does remain will we stay above this particular area and make
it so that it’s an invalid Fibonacci retracement on this on this overall view
and let’s just look and see well we’ve done that so far
and that’s excellent so the current price at the minute is like I said 440
and we’re effectively in the middle of this range here that’s so that’s if we
were to be looking at this for current entries and exits profit targets and
risk management then you’ve got 480 to the upside and of course I’m 3e to the
downside but we’ve been put in terms of just managing risk and entries and exits
another useful horizontal lane to maybe handle on our chart here for now just
get the horizontal line sorry we’ll be in and around and where the previous wit
came down to where this body’s found support and where we had plenty of wicks
in here as a sort of zone really between these two areas if we were to try and be
entering into Long’s but I’m not finished up layer known as financial
advice but that’s maybe were to be looking to and that side indeed if we
were not to just continue to trend on it which we may well be doing overall and
could we get some sort of triangle a flag happen in here
and over the over a period of time there’s something like this could happen
where we where we train sideways for a while in the meantime however why I’m
really looking to is those two previously defined areas to see which
direction we’re going if you’ve just become an interstate hireable I could
always happen in around the area of the of where that blue line is or indeed
even in around this area where right now in terms of Crowther continues into the
Upstate that’s bulls against dollar so let’s finish off by taking a look at it
versus Bitcoin and we can see on the Bitcoin charts that and it’s living
above all these major moving averages neural spread-out found out to the
Upstate nicely and there was never any need for a Golden Cross since they have
the Golden Cross back all the way over here on 15 for me last year it’s
actually respected that and maintained its a upward price directory all the
time again Bitcoin so you know really what good performer in the market
overall and one to be keeping an eye on generally speaking it has more legs
possibly than the others in terms of and other than other altcoins in terms of
form and well against Bitcoin and we and we have the same sort of general area
though in terms of the keeping area here in around this area as reflected on this
on the dollar price as well and their own the forty thousand so to use that
forty thousand says fifty forty five thousands and so she’s yes so and so
around forty thousand total she’s there and or 39,000 satoshis as an area for
managing our risk around and if we were to be more greedy or have some formal
there would be anything above there to up to here in room where we could be
ranging before we try and go on again and off another line here and see if we
can actually break above that area and took any attorney from our up sleeper
that would definitely be a fairly greedy profit-taking zone for us so that wraps
everything up hope you’ve enjoyed the teamlack analysis have Dontae Bitcoin
and etherium analysis today as well so like and subscribe for daily videos and
check out the channel if you want to see those other ones thanks very much for
tuning in today for this one see you next time