LINK - Crab market and macro outlook
t’s been a while since we updated Chainlink and to be honest the past weeks haven’t been very interesting regarding the price action.As some of our subscribers know, besides SolanaI count Chainlink to my most favorite altcoins.The whole project is on track, the fundamentals are strong for the upcoming bullrun and with the exception of some minor details the chart looks pretty good.
I slightly changed our count since the last update and as you can see on the chart, we still believe that Chainlink needs to push below 5.286$ one last time. This is really important because the price established a very complicated WXYXZ correction, and it would be very beneficial for Chainlink if it would finish the lastbearishimpulse (marked in red). It appears that the price is trading inside a channel and didn’t manage to break out of it since mid-November.
But hear me out, IF Chainlink SHOULD break out of this triangle and form abullishreversal, we will update our count according to our bullish alternative.This however heavily depends on how bitcoin and Ethereum move in the next days, as I stated in these updates, I estimate that the majority of the market will start with a wave (ii) correction.
However, if everything should behave according to our primary count, we will certainly begin to accumulate further positions below 5.286$! Stay tuned and make sure to check the updates, abullishreversal is very likely, and it wouldn’t surprise me if Chainlink spikes by 10%-15% in a day.
Additionally, I want to provide our Macrocount with everyone who is invested in this project for the next few years. Our price target ranges from 90$ - 110$, it depends on how the whole cryptomarket will perform and if the Chainlink Team manages to exceed investors expectations in the next years.
Some people may disagree with us, but we think that a price Target of 100$ is possible and NO JOKE!
Please notice that we are already invested in Chainlink since the 20th of June, back then we announced our first positions here on tradingview.
If you should have any questions whatsoever, you can write a comment or contact me directly!
Long Chainlink (LINKUSD)
AVERAGE EXECUTION PRICE: 6.17$
STOP-LOSS: NONE
LONGERM Target: +90$
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