$LINK Chainlink Bearish Cypher

1 thg 2, 2022

Caught some divergence here on the RSI at the 1.272. While the Cypher can go as low as 1.414 on (C), the divergence could imply the bottom is in for now. So long as we hold above this inflection, historically we would likely be headed to 23-25. Bitcoin is the key to all things alt coin right now. I am expecting a correction of some kind from bitcoin, as outlined in prior ideas. Should we break higher on Bitcoin, id expect the same from LINK, and if the trend continues youd expect to see a .786 retracement to complete the cypher, which is confluent with that 31 level historically. That would also give us a lower high at that point, which would likely help fuel the decline on completion, but thats speculation at this point.