Chainlink (LINK) accumulation until May then on to $100+ *UPDATE

31 Mar 2021

The RSI is forming into a nice descending wedge. Likewise LINK is shaped into a horizontal triangle with its apex pointing dead smack into mid May. Take this opportunity to increase your bags, buy it cheap should it touch the base of the triangle. I am of the opinion we have confirming indicators that all point to the same place -> Sideways action then BOOM!

I am going short on bitcoin unless it breaks above ATH and stays there which I don't think it will do. BTC is forming a similar triangle pattern that LINK has long established with its apex pointing towards July! Come a second wave of breakouts LINK and other alts will go first, followed by a second big surge from BTC.

As always, this is my opinion and not financial advice.

7 Nis 2021

Not

BTC dominance on the decline gives way for alts to run. LINK has eased its way out from the down trend and is now pushing higher highs toward the middle of its channel.

There is always a possibility BTC picks up steam pushing alts back down. If so we might see a return towards support at the $23 dollar levels.

16 Nis 2021

Not

Where I went wrong on this timing analysis: I overlooked the flash wick which touched the bottom half of the channel back on 12/23. Had I factored that in, as part of the greater move, I could have seen a more bullish scenario early on.

LINK still is fighting in the middle half of the channel, which can be a bearish sign if it doesn't stay above the mid line. Overall the greater trend is bullish continuing to push higher lows along with higher highs. I have zero doubt we will reach 100+ this bull run.

20 May 2021

Not

EYE OF THE NEEDLE: Here we are, mid May and look what happened, a perfect touch to the bottom of the channel "Exactly as I predicted". I hope you had your limit orders in, because I sure as hell didn't. That's okay though, holding a nice bag of linkee's so we should be alright.

Note: I put the 1,2,3,4,5 down more or less as a shape of things to come. I personally think Elliott Waves is far too dated and can not be used to accurately predict market moves. It is however still a good tool of forecasting the general shape and direction of a move.