So here i've laid out both my bullish and bearish prediction for chainlink, and Id really like some of you guys to weigh in on this one, are you bullish or bearish? Does your prediction follow mine or differ? Etc. This is a very interesting coin to me...
BULLISH: So with all relative technical analysis in green, let's look at the possible cup and handle formation the Linkies have been praying for. So far we haven't broken our long-term trendline, so a moon mission is still possible, and the recent dip that could be perceived as a breaking of the handle formation, I see more as a response to Bitcoin's recent volatility.
BEARISH: In predicting an Elliot correction wave, red, we unfortunately see that our last high was barely above the previous, and if our next rally cant test yet a newer high, we may almost certainly be heading for a mid to long term downtrend. Lastly, we can't ignore the MACD which isn't looking great.
Beyond TA: One thing, as i noted, is that LINK is very unique and weird coin. It's never talked about, the team has horrible PR 0.09% but seems to beyond just competent on the technical side, they have some major players and partners, but what does that even mean in the crypto space now-a-days. DYOR research, and make your own opinions about all these things, but one thing im almost certain of is that due to the relative silence from the team, a serious, big announcement could potentially have a massive bullish effect.
評論
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Well we sure arent following any waves or cycles but if you went with my bearish possibility the call for price-action was pretty accurate, haha. I dont see us hitting red (C) however, maybe im overly optimistic, but as we can see viewing it on the Heikin Ash graph, the bearish momentum is really weening.
Feedback - thanks for posting your comprehensive idea.
BULLISH: You are correct here, more of a response to BTCs volatility.
BEARISH: Understandable. There are 3 Events Upcoming: CEO speaks at Bitcoin Superconference in Fed. CEO speaks alongside Docusign's CEO at SXSW. The expected release of the TestNet after they migrated to GoLang as it is thought that the partners wanted this to work alongside their existing infrastructure which is in GoLang.
Beyond TA: DYOR concludes if project is successful which is dependent upon the TestNet and possible Partnerships - price should rise. The crowd seems to be into the "anti-hype nature" of LINK and it is quite impressive the Market Cap is what is it is despite any Marketing/Fluid Communication.
kdenery
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@etwaro, I completely agree with your last sentence there. It's a VERY fresh sight to see among all these projects that seem to be all talk and no work or product.
My position here is to hold a stack for long-term purposes while also using a stack for short-term purposes to increase holdings. I expect that if/when there is any positive news - it def. would be hard to catch as one would expect significant percentage gains in minutes/hours.
I also have some non-TA variables (outside of the box observations) I can share. More information is always helpful and I think you would appreciate some external analysis:
1. Reddit LinkTrader Sub-Reddit (I do not use Reddit, I only observe this channel for activity):
december 28th, 2017 number of token holders per etherscan: 13342
january 2nd, 2018 number of token holders per etherscan: 13972
january 20th, 2018 number of token holders per etherscan: 17313
january 23rd, 2018 number of token holders per etherscan: 17698
3. LINK being adding to the Huobi Pro Exchange on appx. Jan 21st. Significant because it has only been available on Binance or EtherDelta. Huobi Pro is larger than GDax, if I am not mistaken. Do not think we have seen any effect from that yet.
kdenery
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@etwaro, Much appreciated info! I have one other piece, to add. durring the last big btc crash, the top holding link wallets increased their amount held, while a lot of smaller wallers sold off. This indicates that big, rich players are using every dip to accumulate.
etwaro
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@kdenery, Excellent - just followed you so looking forward to any updates in the future. Thanks!
BULLISH: You are correct here, more of a response to BTCs volatility.
BEARISH: Understandable. There are 3 Events Upcoming: CEO speaks at Bitcoin Superconference in Fed. CEO speaks alongside Docusign's CEO at SXSW. The expected release of the TestNet after they migrated to GoLang as it is thought that the partners wanted this to work alongside their existing infrastructure which is in GoLang.
Beyond TA: DYOR concludes if project is successful which is dependent upon the TestNet and possible Partnerships - price should rise. The crowd seems to be into the "anti-hype nature" of LINK and it is quite impressive the Market Cap is what is it is despite any Marketing/Fluid Communication.