trufflesuite chainlink oakley chainlink rubber parts chainlink prie IS CHAINLINK READY FOR A MOONSHOT TO $100? Next Chainlink Price Targets
whats going on everybody welcome to todays first video in todays first video were gonna take a look at chain link and see what its doing on the four hour the daily the weekly and the uh weekly chain link bitcoin pair to see if we can find any clues on what is going to happen next for a chain link so make sure you guys watch this entire video to see what is going to happen next now we can see here guys on the four hour charts we dont waste any time we jump on into the chart here you can see chi link has broken this resistance um to the upside here you guys can see we actually were getting held down by this general resistance once twice three times four times and five times here and we actually did break that to the upside so what are we looking at as far as a breakout target for this well you can see that you can kind of classify this as two different things right you can say this is more of a cup and handle pattern breakout to the upside you could also slightly categorize it as a possible um inverse head and shoulders right however you kind of want to draw this you can draw in both different ways now your potential breakout pattern for this is um from the bottom of your head to the top of your shoulders and you extrapolate that at your breakout point its going to give you an approximate target here for chain link um at approximately about 45 25 right so thats kind of your short term target here we have a bunch of stuff to go over on in this video im going to show you guys uh where i i more so think chain link is going to be going in the short term but 45 25 is your short term target based on the breakout of this pattern now slipping on over to the daily chart um this is our fibonacci extension target from our last swing high back in august to our swing low back in september and you can see weve kind of been respecting these fibonacci targets right we had our first initial impulse to the 1.618 fibonacci second initial impulse to the 2.618 fibonacci right and our third impulse um not exactly but pretty much right to our 3.618 fibonacci so if the history was to repeat and we would go up to our basic fibonacci extension targets our next target would be up here um approximately at about 52.74 which has a lot of confluence im going to go over in our next chart and what weve been talking about for chain link for months as far as our next targets now uh real quick i did want to point out that we are back above our uh 20 daily moving average which is typically our uh you know shows us whether were in a short-term support or uh short-term uh bull mode or term bear mode right you guys can see remember above this we relatively are in an upwards trend were below it we kind of get keep getting resistance on it and cant break it back above it so you can see were back above it now after temporary falling below it so that tells me that i think were going to be moving up to the upside here over the next couple days for chain link but switching over to the weekly chart are we about to hit that resistance once again you guys know you guys are new to the channel you guys know weve been in this long term rising wedge for chain link ever since its inception back in uh september of 2017 right weve had a couple fake outs not really fake outs but you know we had a bunch of fomo obviously in january 2018 and obviously a bunch of fud in march of 2020 so we got it we got to kind of keep those data points um away from this but you guys can see we had one two three four five six touches on the top of this wedge and one two three four five touches on the bottom of the wedge as well so this is all but confirmed to me and as you can see were getting tighter and tighter in this wedge and this does have to break out at some point now this is on the weekly chart um 3886 is where uh chain link currently is technically it could still go straight up today and hit about 46 42 for the top of the wedge which lines up very very well with our uh measure move target here out of this cup and handle or inverse head and shoulders pattern we broke out of right so um thats certainly interesting now if it took us a couple weeks to get up there you can see as far as we go over uh 52 fibonacci mark would be somewhere around this point right right around june 7th so maybe we kind of consolidate up there slowly until we hit that fibonacci target and then we maybe go back down and retest the bottom of the wedge but you know guys at some point were half were going to get squeezed in this wedge and were going to have to break up to the upside here for chain link at some point and i do think its going to be relatively sooner than later um you can see the reason why here is our stock rsi is not at the lowest point you guys can see we generally bought them out here for chain link when our stock rsi hits the bottom of this trend right you guys can see right here we hit the bottom that was the bottom of our trend here guys bottom of our trend here bottom of our trend you can go all the way through im not gonna go through the whole thing but um you can see the last time we bottomed out for this was uh generally all in this area which was basically the bottom of the trend um so um we are getting close to that bottom there uh which which is interesting because um we could go a little bit lower here but generally speaking we are towards the upper part of the wedge so are we going to see kind of this weird fake out from the stock rsi which has been a pretty good indicator when we bought them out for chain link im going to get a fake out and flip to the upside here for the stock rsi which would which would ultimately lead in higher price action and break us out of the wedge for once and for good you can see on the weekly rsi we do have still have room to run right we still have room to run here on the weekly rsi though we do have a little bit of bearish divergence here on the weekly chart so just be wary of that it already did play out with a red weekly candle but um it could still push us down further for sure so we had lower lower highs on the um rsi and higher highs in price action so that could keep us down bearishly if we did drop they would bring us to somewhere somewhere around like 27 28 bucks on the bottom of this wedge now flipping on over to the chain link bitcoin chart this is what i want to spend a good amount of time on today um you could see that we are forming a similar pattern we did for each last two pumps for chain link on the bitcoin ratio you can see back here guys what we basically did is we had a uh initial pump up right came back down a little bit and then made a higher high right and then what did we do we kind of consolidated we made a bottom here made another high and then we had kind of a downwards resistance broke out of it came back down and tested it and then really went off parabolically you can see the same thing we did right here where we made up made a high made a higher high came back down um then we had a downwards resistance we broke it came back down and retested it we tested our previous resistance this new support and then were off again and what are we doing now the exact same thing just on a bigger massive scale you can see here we made a high we made a higher high right we came back down right and now we kind of have this downwards resistance i drew it all the way from back here but generally speaking we do have this downwards resistance what do we do we broke it we came back down and tested our previous resistance as new support and if history was to repeat on this we would smash up to the upside here on the chain link bitcoin pair im excited for hope you guys are as well uh but thats gonna be the video today guys um hope you guys did enjoy if you guys did make sure you guys leave a thumbs up make sure you guys subscribe if you guys are new to the channel and like the content um and ill check you guys out in the next video peace out Earn Free Bitcoin with 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We are going to take a look at the next potential Chainlink price targets and do some Chainlink technical analysis. --------------------------------------------------------------------------------------------------------------------------------------------------------------- Full Disclaimer: This video and its contents are for informational purposes only and do not constitute an offer to sell or trade, a solicitation to buy, or recommendation for any security, cryptocurrency, or related product, nor does it constitute an offer to provide investment advice or other related services by Jordan Camirand. This is simply my opinion on cryptocurrency and other assets. chainlink link altcoins chainlink,altcoins,link,
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