givenchy 1960s metal chainlink chainlink shirrt chainlink is the future OVER 100X BUYING CHAINLINK ANALYSIS - LONG TERM LINK PRICE PREDICTION - SHOULD I BUY LINK
hi and welcome back to cheeky crypto today guys were talking everything chain link taking a look at the price action and trying to give my thoughts on where I think its going to go in the next Bull Run whether that is 6 months 12 months or maybe even two years from now I dont know how long its going to take to play out but I do have a good idea as to where things may actually end up going in that next Bull Run as I get into this if you find it useful and informative smash that like button I do appreciate that if youre new to the channel go ahead and subscribe tapping the Bell selecting all the notifications and in doing so you will not miss another video here at cheeky crypto if you havent yet joined us in Discord go ahead and check it out its a centralized Hub of everything that we do cheeky crypto it is the first place we go to to notify you of the ins and the outs of whats been going on in the crypto space whether you want to get ahead of the game with FTX Alameda research or just know what the next hot Hidden Gem is going to be the Discord server is where you want to head links in the description down below is free and you dont think youll be disappointed by what you find down there if youre looking for more from the crypto space you can check out the patreon services as well in the description below lets take a look at chain link now in this particular video were not going to really focus in on the fundamentals I mean theyre absolutely solid as a rock when it comes to chain link um specifically with all of the Integrations and bringing real world data on chain and all those wonderful things now Im not going to talk about that in this particular video because you know theres a lot of videos out there already that do talk about that and maybe Ill save that for another video here at cheeky crypto as well this video is going to be all about price and where we think price is likely to retrace down to for this bear market and where I think the ball run whenever it does arrive may take Link so lets go ahead and review whats been going on so chain link is my favorite volatile asset its incredibly volatile in fact so volatile it wrecks people but also makes people very very wealthy at the same time its all about timing with chain link essentially chain Links price is pretty much driven from demand of things like D5 applications and other applications that require real world data in the case of D5 just think about price feeds and how you bring those private price feeds into those damps so you need an Oracle and thats where chain link comes in so as the demand spikes up higher for these damps you tend to see the price of Link going up with them because they only need to pay for those on-chain pieces of data or off chain or bringing them onto chain so as demand increases for dapps then you tend to find that the demand for link increases likewise when they decrease chain links price decreases with them as theres less demand for that real world data on chain so now we have a good understanding as to kind of why the price is as volatile as it is we can start to think about why this is a good thing for the speculative investor so when it comes to investing in chain link if you get your timings right you can really take a good ride to the upside let me just show you a couple of examples here I wont do them more Ive spoken about this a dozen times already but lets just take a look at a couple of things we had this initial surge to the upside now we can obviously take that and just focus in on those big ones like this its a 1207 right pretty impressive um but as soon as you have those spikes to the upside and if you fomo in too soon the next thing you know youre all the way down here at less than 68 of your investment pretty big crash for uh cryptocurrency in a bull run right even up here you can see then searches up another hundred and eleven percent before forwarding again as that demand decreases and if I can just get that to snap in there another 49 so you can see the timing this is going to be absolutely critical you get a lot of spikes to the upside and lots of spikes to the downside these are pretty common when it comes to chain link so making sure that you get the right kind of entry on your trades with chain link is going to be absolutely vital if you want to protect yourselves from any potential um I guess wreckage were going to call it wreckage why not so when we take a look at chain link here and we take a look at it from the dawn of time from 2019 uh we could actually take a look at it from March 2020 its probably the better place to be thinking about the Bull Run kind of games I mean they did technically start down here for chain link in 2019 January of 2019 is the start of the bull market for Bitcoin ethereum and in the case here of chain link um a lot of other altcoins didnt finish but actually bottom them out until March of 2020 and we know what caused that and so do be a bear in mind that when something actually has a bottom it is not necessarily that all cryptocurrencies have bottomed out now during this 2019 low point and this 2021 High Point it was 15 000 in gains so pretty lucrative if you were able to get in at the bear Market bottom right so we see theres a pretty good run to the upside but we cant trick ourselves this is incredibly volatile which means that there isnt really a trend here we are above of course the 200 EMA you can kind of see us writing that up to the upper end here and then kind of now were below it were kind of trending down a bit right at least from a typical kind of traditional Finance point of view Elite way Theory however just tells us this is three ways because of the volatility with the asset it goes up in a one wave comes down in two and then goes up again okay and so its basically just three waves theres no more to it than that and again you can break this down by saying look heres one is two and heres three as well so it looks pretty consistent we have this kind of three wave move to the upside but as we kind of think about scaling this just out a fraction more maybe well just jump up into the weekly lets see if that makes more sense heres some of the interesting volatile spikes that youve seen with chain link here and so for example you can see 67 63 and 74 if I go ahead and just hide these off of the weekly let me just remove the weekly and the monthly for that matter Ill just remove those and well end up with this cleanest chart when we take a look at it from a slightly longer point of view something that maybe spans multiple multiple years then actually we can zoom out of this just a fraction and think maybe this is a three wave structure in itself right maybe what weve got to experience here is a big a wave up of some kind of B wave down and then some kind of C wave upwards right and I think for chain link thats a pretty reasonable expectation um considering how long its been around how many Integrations and Partnerships it has and all those wonderful things so I think theres a lot of positivity around chain link so lets go ahead and focus in on what is going on right now with everything chain link okay I think weve got some complex structures that are appearing in this bear market so in order for us to be able to predict out how high were going to go in the next Bull Run we need to figure out how low were going to go in this bear market right now this is going to be subject to change a little bit but I have an idea as to kind of where I think things are likely to go down and therefore I can predict out roughly how high things could potentially go in the next ball run so with this weve got a lot of structures to kind of consider so lets go ahead and just break these down in here weve got a couple of five wave structures um just appearing in here weve got one weve got two weve got three four and five I dont like the fifth wave here but it is what it is um alternatively in fact there isnt really an alternative to it I just think weve kind of fallen short of our Target probably in some kind of diagonal pattern or something to that effect Im not 100 certain so theres a lot of thats going to potentially be subject to change as we kind of go down into these lower time frames if I were to jump in here you can see weve kind of bounced around a little bit and we havent really finished those kind of low points off and all that kind of stuff so theres a few things to consider with that but lets go back up into yeah the daily here lets just go into the daily and focus in on this okay so um thats kind of the the first part of this this is basically a five wave drop but its you know random right its just placed in the middle though and thats not really something that we would do so youd have to start nesting this in youve gone one two all of that is three were currently in a four and weve got to come down into a five okay now were starting to think okay theres uh some levels to this and all of that then would actually be wrapped up inside an additional move just here one two and then this would be way three four and five still to come okay so this kind of gives us a bit of an idea it gives us a bit of a bit of a flavor as to where things could potentially go here for chain link as the rest of this Market starts to continue to bleed out now were not going to wrap this up this would not be the right stretcher thats not something thats going on and thats because we dont dont have the right starting point up here these are actually three wave structures so one two and three or a b and c and then we come up here with a b and c like so okay this basically tells us theres three three five and its a corrective pattern and thats exactly what I want to see okay so even if I remove some of these sub counts and we try to neaten it up a little bit I think that weve still got some downward price pressure to occur let me just go ahead and remove those you can see its a 335 structure and I think were still in this way three which means well have a bounce upwards and then well fall back down a little bit deeper after that okay so where do I think its going to go and Ive spoken about this quite a few times with our patreon members I think theres an interesting area just a little bound to come around to 2.2.50 area but let me show you something that I find quite interesting if we run the Fibonacci retracement level from the all-time high up here to this bear Market low 2019 over this side we can see this area right here this is the 382 its a 382 when I draw it this way around however if I draw it the other way around which would be the correct way during the retracement so if I go ahead and draw this on from the bottom to the top then actually what do we see is this area just here is a 618 and that would be basically a 61.8 retracement from the top to the bottom here okay and thats measuring this entire distance from 2019 through to 2021 and actually that lines up very neatly with where I thought a chain link would be going within the structures that I have counted out on the smaller time frames I have this actually about 2.50 right 2.50 I think two or something like that and so I could quite happily see this come down a fraction more and be right inside this little Slither here and more specifically right inside all of this consolidation on the left hand side of the chart so yeah its 2.38 could be the interesting level to kind of be thinking about so in fact what Im going to do is Im going to go ahead and draw a row line on there and its a 38.4 so Im going to go ahead and just put that on there so 2.38.4 Cent that would be the area approximately where we would think things could potentially retrace down into during this bear market now that might seem crazy but up there at 7.25 and its going to be an unpopular opinion I mean were talking another 66 drop but chain Links incredibly volatile it would not be unusual to see such a drop like that so let me go ahead and remove all those waves we dont need those on the chart we kind of now have an idea of where this bear Market potentially is going and that means that yes thats a new lower low for chain link and yes its going to bottom out somewhere down here and it will put us right back down and this lower range and this is actually a pretty good place to be retracing down to a 618 retracement and um thats pretty typical so thats looking pretty good so lets go ahead and now draw our Fibonacci retracement tool from the top to the bottom and were going to go ahead and just move it were going to move it over to our little dash line over here this now gives us a one to one ratio potential for the next Bull Run or chain link so let me draw this on so you get an idea of what Im talking about we go up in a wave we come down in a b wave we dont know how long this is going to take to play out either guys it could be a long it could not be long could happen overnight could happen over two years I dont know as we kind of move back up again we dont know how long that will take either I mean bear in mind it was 2019 through to 2021 to go up that a wave it could take the similar kind of amount of time for that c wave to go up there but we do have an interesting high point for chain link comes in up here at 355 dollars and 62. let me actually go ahead and go into my coordinates and its going to be 355 65.2 there we go and I can now yeah Ill leave that on there for a second but you can kind of get an idea thats a pretty significant bump to the upside and it would match up with the a with 100 do I think thats likely to happen I think thats going to be a bit of an optimistic approach to it but its possible sure theres going to be some resistance right up here on the 618 and you can see that as the previous all-time high as well so do watch out for that one um but I think the 786 is going to be a key area for us as well so I do think theres going to be some interesting areas around here Ive often thought that chain link can push up to the 200 level pretty reasonably that would be 88.2 percent um to go to 355. I think its going to be a bit of a push itll be quite difficult so itll be really a matter of counting those internal waves to see whats going on there but it gives us a bit of an idea gives us a bit of an idea as to kind of where things could potentially go and that would be very very very good I mean itll be well over 100 x if it did that okay so lets kind of be conservative lets kind of think about where were going right lets assume if we come up to the previous all-time high were already two thousand percent if we go up to the 786 area which is another area that would be resistance that would be about 4 900 so we can definitely see some diminishing moment in gains if thats the right word I dont think it is a word or maybe I just made it up um but you definitely see some kind of rate of decrease on your route to the upside here youd have to have a pretty impulsive move for chain link I would expect something pretty decent like that in order to get us there um so you know thats always possible so itll be interesting to kind of see how that plays out and but for now it gives you an idea as to kind of why I like chain link the volatility uh can be brutal at times but it does give us a real good idea as to kind of how volatile this thing can be to the upside when that demand kicks in and in the case of chain link here I wouldnt mind a 355 link let me know what your thoughts are in the comments down below do you think this is logical do you think this is likely are you back in link or are you backing a different uh oracle-based system let me know what your thoughts are in the comments below if you found this useful and informative smash the like button I do appreciate that if youre new to the channel subscribe tap the bell and dont forget to join us down in Discord until the next one guys have a fantastic day foreign Trade on BitgetBitget Get Up To $8,010 BONUS - Use THIS Link Trade on BYBIT Sign up Code 42391 Get Up To $4,050 BONUS - Use THIS Link Trade on MEXC to Earn $9,100 ●▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬● Mint a Karma NFT - save lives and earn great passive income at the same time! 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