BULLISH AND BEARISH ARGUMENTS FOR CHAINLINK - CryptoManiac101
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CHAINLINK / USD TA
BULLISH CASE
Chainlink is in a symmetrical triangular pattern, otherwise known as a bullish pennant which in over 75% of the cases results in a bullish pump upon confirmed breakout. This would be a good longing zone while LINK is bouncing around in the 'No man's land' and we are waiting for confirmation of BULL or BEAR break.
BEARISH CASE
Chainlink is in the similar pattern as it was back in August - September of last year which results in a nice dump followed by a 4-5 month accumulation before further pump. In this case if we were basing this trade solely based off fractals, we would be entering a short position here and adding on top of it as we get confirmation for downward break.
BULLISH CASE
Chainlink is in a symmetrical triangular pattern, otherwise known as a bullish pennant which in over 75% of the cases results in a bullish pump upon confirmed breakout. This would be a good longing zone while LINK is bouncing around in the 'No man's land' and we are waiting for confirmation of BULL or BEAR break.
BEARISH CASE
Chainlink is in the similar pattern as it was back in August - September of last year which results in a nice dump followed by a 4-5 month accumulation before further pump. In this case if we were basing this trade solely based off fractals, we would be entering a short position here and adding on top of it as we get confirmation for downward break.
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