LINK: CHAINLINK to $100 Primary EW Count

1 Nis

Primary EW Count: Chainlink is trading in an overshooting B wave in a potential flat pattern. A common fibbonaci ratio for the top of an overshooting B wave in a flat pattern is the 1.236 - 1.382 fib which spans between $92.82 - $131.31.

Not all flat patterns have an overshooting B wave, hence the Bear Case of $60 (1.618 fib) outlined in the previous Wyckoff Accumulation Schematic post.

Probably not the most favorable bullish outcome as Chainlink fundamentals continuously improve with the rise of DeFi. This idea entails that once Chainlink tops out this market cycle, Chainlink can trade back to single digits in the next bear market. In other words, Chainlink could trade sideways for the rest of the decade.

Stay strong Link Marines.
S.N. = S.N.

1 Nis

İşlem aktif

In the short term, Chainlink could be trading in a smaller ABC in Minor Degree flat pattern. Hard to tell whether Chainlink has cemented a substantial bottom on March 11th. Could do with one more low on micro time frames. But regardless, will you care if you bought Chainlink at $13 or $10-11 if it goes to all time highs? I think not. I haven't seen this level of the fear in the market since the Japanese market fiasco back in the summer of 2024. BTD.