chainlink price reddit chainlink trading view chainlink partnerships 2020 BIG MOVES COMING for BITCOIN?!? + Chainlink Bullish Setup!
bitcoin has begun breaking out above some key resistance levels we are less than a hundred dollars away from seeing a major higher high on the daily chart ethereum is also beginning to push up above the downward sloping resistance which could lead bitcoin into an even bigger breakout and also chain link is seeing a major push above the 21 day ema we have not seen this much price action above the 21 day ema in a very long time and also the s p 500 has broke out to the upside of this rising wedge pattern which means things could be getting quite bullish over the past many weeks on this channel ive been pretty neutral ive been discussing some bear scenarios some bullish scenarios i wasnt too sure what to think about the market and yesterday on twitter i said even though ive been more neutral recently things so far seem more bullish than i expected s p futures breaking out right now bitcoin getting above resistance ethereum break out soon chain link potential bullish setup if global markets continue moving up it will get bullish again im still a little bit cautious about the global situation although the bullish case is gaining a little bit of strength so were gonna be talking about all of this and more in todays video whats up guys welcome back to the channel my name is kevin svenson and today were going to be talking about the price of bitcoin ethereum and chain link so im looking at the crypto watch asset card list and we can see that bitcoin did break out again this morning up one and a half percent ethereum following bitcoin up three point four three percent and chain link is up over eleven and a half percent before we get started on this video definitely smash up that like button so things are starting to heat up once again if we look at bitcoin on the daily chart you know things have been really boring since the beginning of the month weve just been trading sideways into this pennant formation we finally got a push to the upside and this is largely due to the bullish sentiment that weve continued to see in the global markets recently for me i found it kind of difficult to tell what the markets were going to do because the president united states contracted coven 19 went to the hospital and then he was making tweets and each tweet made the market move and they cancelled the stimulus package they cancelled the airline stimulus and the political climate recently has been quite insane but whats interesting is that the stock market has been able to continue upward and this has allowed bullish sentiment to come into the bitcoin market and we are breaking above some key resistance right now what we need to look out for is breaking above eleven thousand two hundred if we go from the swing high of twelve thousand four hundred eighty six to swing low here at nine thousand eight hundred thirteen we can see that we did find rejection right around the fifty percent fib extension here in middle of september and now were coming up to test that once again in my opinion if we can get above 11 200 this could in fact send us up towards the 12 000 level in my opinion this will have a lot to do with what the global markets do if the s p does confirm this breakout and continues running up to the upside and potentially looks to test new all-time highs then very likely bitcoin is going to run up towards 12 000 and potentially hit new higher highs for the year and if this does end up being some kind of major fake out for the stock market and we end up dumping later on going into the election or something then very likely bitcoin is also going to see a dump in price but right now bitcoin is confirming a slightly more bullish posture and now were coming up on this very key level around 11 200 and if we can get above that things could get quite bullish now ethereum has been lagging a little bit ethereum is just now as im making this video trying to get above that downward sloping resistance if ethereum can see an actual breakout here and confirm that that would very likely help bitcoins break out and if ethereum does confirm this breakout i would look towards bitcoin because very likely we would start pushing above 11 200 at that point generally bitcoin and ethereum are following one another but its interesting that sometimes bitcoin leads breakouts and sometimes ethereum leads breakouts and today bitcoin is leading the breakout and ethereum may be looking to add some extra fuel to the bitcoin breakout if it continues up now what i find super interesting is one of my favorite altcoins chain link is seeing some really bullish moves weve created a nice base of support here above that previous resistance in mid-july and the formation of this pattern could be interpreted as an increase in momentum for the bulls an inverse head and shoulders pattern you have a low a lower low a higher low and were starting to break out above resistance here so it does seem like the bulls have regained the momentum and were starting to break above the blue 21 day ema during the run up after the all-time high break here above five dollars we use the 21 day ema as a pretty key support indicator for the most part we generally held above it until things became much more bearish for the crypto market thats when we started using the 21 day ema as resistance on the way down and now were starting to actually break out above it this is the most significant price action chain like has seen above the 21 day ema so far and if this daily candle can confirm a close above the 21 day ema here things would likely get very bullish for chain link once again the first major upside target for chain link is going to be coming in around 11 us dollars after that the next major target is coming in closer to 13 us dollars actually as high as 13 and 40 cents so there is a lot of room to move up here for chain link if we can confirm bullish and close this daily above the 21 day ema and really what we want to look out for here is using the 21 day ema as support lets say we run up to 11 us dollars and then we get a rejection pull back to the 21 day ema if we confirm that as support and we trend along with it then very likely the next major target will be coming in closer to 13 us dollars obviously a lot of this is gonna have to do with bitcoin if bitcoin can remain bullish if the global markets can remain bullish and you know not get this type of a sell-off right but right now it looks pretty good were breaking above the falling wedge were starting to continue to move up maybe we will actually see higher highs in the stock market and maybe things wont be as bearish as i expected so chain link is looking really good this is a really nice bullish setup ethereum is trying to follow bitcoin right now bitcoin is getting above some key resistance and if we break above 11 200 i do think that very likely we would be pushing up towards uh twelve thousand actually definitely keep your eye on the stock market we gotta make sure that we confirm this breakout and if we do things will very likely get very bullish once again just keep in mind guys that things are still kind of uncertain across the world theres a resurgence of coven 19 in europe things are shutting down again um you know the stimulus package was canceled the airline stimulus was canceled the political climate is still pretty crazy so just keep in mind guys stay cautious right anything can happen right one tweet can change the entire situation so just keep that in mind so i hope you guys enjoyed this video hit the like button if you did subscribe to the channel and also sign up for the crypto watch platform by using that link below its totally free to sign up and ill see you guys in the next video you Like/Comment/Subscribe ✘ Sign Up For Cryptowatch!Affiliate Link: . ✘ Become a Patron for Extra Content! - . ✘ Twitter: . ✘ Help Me Grow Our Discord!!! . ✘ . ✘ Sign Up for Kraken! 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