chainlink crossover businessChainlink Technical Analysis 1/15/22

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chainlink crossover business chainlink aroundme Chainlink Technical Analysis 1/15/22
hello today is january 15th and this video were gonna be going over the chain link chart on the daily weekly time frames now before getting into the price action just want to say if youre interested in some of the more fundamental analysis regarding the crypto and traditional financial sectors feel free to check out the crypto fundamental analysis video i did earlier today where i go much more in depth whats going on behind the curtain of the ta now getting into the ta looking at chain link were seeing a little bit of consolidation here if not bearish rejection after the uh nice bounce we saw from the bulls yesterday we came down tested the 26 period ema bulls bought up the dip quite nicely and even closed back above the 12 period ema however the problem is is that were not getting the falls that we really want to see from the bulls on chain link we really want to see we really want to see follow through in the price action from the bulls growing momentum on the daily macd once more and so now with this upper wick thats formed and bearish price action following we have to be quite concerned are we going to start breaking back down below the 26th period uh the 12 period ema here or our bulls going to hold it at support and if we do break down from there are we going to get into the red territory on the daily macd um you know we know we got some waning momentum back here from december 28th to december 31st before january started giving us some uh bullish price action and uh bullish momentum growing on the daily macd once more lets hope that something similar plays out here again because if we get into the red territory not only do we of the macd with bearish falls in the price action not only do we threaten to get another bearish crossover on the short-term ema setup but we also are going to be threatening to come back down into the triple ema area so again another reason we really wanted bullish follow-through today is because you know the bulls nicely found support at uh the 50-day expansion moving average and even came all the way up and closed above the 200-day exponential moving average and we really want to confirm a higher low and then get some higher highs going to eventually get the bullish crossover on the triple ema setup this would be quite a nice um you know technical development in chain links ta and so until we get that bullish crossover theres still always the chance bears could roll price action over give us an some kind of a large move to the downside and resume the downtrend if not widening giving us downticks in the exponential moving averages to widen the gaps between them that would be quite concerning looking at the rsi um lets see got a tug of war going on the rsi yesterday got a higher rsi without a higher high in price a lower low in price if i had a lower rsi rating then today were seeing more tug of war going on we have a lower rsi rating without a lower low in price higher high in price about a higher rsi rating so just waiting to see how this tug-of-war consolidation plays out looking at stochastic rsi we see the continuation of the bearish trend and fortunately we havent seen that following through with a nasty leg to the downside right were still finding support at some important uh exponential moving averages so theres still a chance you know we could confirm this higher low see bulls will get back in control of price action and give us a re-convergence if not a bullish crossover going on stochastic rsi that would be quite a bullish outcome but with the bearish trend continuing here on the stochastic rsi we do have to be careful to see if uh you know well just get some lower lows going moving on now to the 50 and 200 day moving average again just another just another reason we want to see bulls really confirm this as a higher a higher low here on the daily time frame we came down test below 200 day moving average and have found multiple um days of support you know we came down tested below it on january 13th closed above the 200 a day tested below it again on january 14th bulls come up close nicely above it and now we really want to see bulls eventually give us those higher highs to start conf giving us confirmation of a continuation of the uptrend moving on from that looking at the bollinger bands again just another key area of support we came down tested the 20-day moving average held it as support and now we want to see continuation from the bulls to continue this uptrend on the bollinger bands so if we start coming back down breaking below the 50-day exponential moving average the 26 period uh yes excuse me the 26 period exponential moving average the 50-day exponential moving average the 20-day simple moving average the 200-day uh you know simple moving average this these are going to be quite you know theyll start to look like quite a bull trap starting to form where these bulls trying to confirm this uptrend just get caught on the wrong side of the trade and uh we see a nasty move from the bears looking at the weekly time frame now we are still kind of consolidating here after last weeks move from the bulls uh below the 20-week moving average and so it would be nice over the next one day and six hours left on the candle if we could see um bulls give us some nice positive price action try to confirm some higher highs on chain link and if even if we dont get some higher highs just we at least want to get back above the 20-week moving average at 26.55 you know weve been holding support at key simple and exponential moving averages on the daily time frame if we can just hold this key support level on the weekly time frame that will be uh certainly notable to myself and um you know besides that what were really looking for on this weekly time frame in addition is for bulls to eventually get us into the green territory on this weekly macd and what we dont want to see is follow through after this weeks consolidation from the bears to give us growing momentum of larger red bars starting to form so once we start seeing red or green bars on the weekly macd thatll certainly be some kind of a nice indication of where the trend will be heading until then just seeing some consolidation forming thats going to be the end of this video hope you enjoyed it hope you found the content informative if you did please consider giving the video a like subscribe to the bitcoin farming channel if you have not already but regardless how big queer rest of your day or evening and hope to see you in the next video Technical analysis of the daily and weekly chart for LINK.