Ok that was not the best way to describe what I want to bring forward on this study but it is amazing how similar ChainLink's current bull phase on the 1D timeframe looks to Bitcoin's price action since mid 2017 on the 1W timeframe.
Not only is the candle action (see the shapes) and pressure points (see the arrows) similar but also the MA50 and MA200 periods on both charts behave in the same way. The break of the MA50 signalling a bear move and the support on the MA200 signalling the bottom.
What can this potentially mean for LINKUSD? Maybe nothing but I suggest that we pay close attention to BTCUSD on 1W for pointers on LINK.
Not only is the candle action (see the shapes) and pressure points (see the arrows) similar but also the MA50 and MA200 periods on both charts behave in the same way. The break of the MA50 signalling a bear move and the support on the MA200 signalling the bottom.
What can this potentially mean for LINKUSD? Maybe nothing but I suggest that we pay close attention to BTCUSD on 1W for pointers on LINK.
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