First-off, I would like to state than I am a Link enthusiast, I like the product in itself and also believe that there is a real use case for it as smart contract will power the world in a few years. But as an oldfag, it is my duty to educate and inform the newfags. Also, this thread will hopefully spark an interesting and thoughtful discussion on the future of the link/btc pairing (discussions we used to have often on this board before the over the top cultism).
Back to pic related, it is the link/btc chart. The purple line is the 200 days moving average, the green one is the 50 days ma. As you can see, the 200 has been providing support for years now, helping link weather the storm (Google dump, corona crash, etc..), it has allowed link to keep its current form and be the outstanding performer we know it is now. Well this was the case until now: as you can see, since a few days ago this multi-year support has been breached, leaving link literaly falling into the frictionless chart void. Please also notice that the faster 50 days moving average had never crossed the 200 down during this same period, an expert eye will have noticed that everytime the cross was looming, link reacted and pumped to negate the cross. Well once again, this is no longer the case; since a few days ago the death cross has occured and has been validated by recent price action.
So, what's next for link/btc? In my opinion, it is going for a full retrace, and might find support around 30k sats. Any thoughts welcomed.
Btc is finally going to run. Link will bleed in sats but remain relatively stable in USD. Or btc dumps, alts bleed sats and absolutely shit the bed in usd including link. Idk bro, I've been pretty worried about the linkbtc chart but we haven't broken dynamic support quite yet, as of right now, that support is at 65k sats. If it breaks that I'll be worried but as for now it's fine.
Austin Howard
Oh no, I just bought 1000$ worth of link today. Should I sell before it's too late?
Or should I wait till BTC starts growing again and dragging other coins and then sell?
Christopher Morgan
>Why don't you just double your money in 1 day
Jacob Baker
I just have to wait for the moon now user it's really comfy. You wouldn't understand because you're playing with lunch money and need high risk high return.
Lincoln Watson
not comparable. no death cross, no rejected try to cross back up
Ryder Cox
Also, the run to 20 took it out of the ascending wedge so the dump from there was expected to be pretty harsh. I expected it to retest the rope of that wedge as support but it broke through, still bullish as the bottom of the wedge is the multi year support.
Carter Foster
yeah, thinking the same. But really anticipate the memeline to break this time to get a real shake out. I just hope it'll have the legs to get back up at some point.
Landon Phillips
Makes sense, but the bottom is unironically 1k sats, where it will hover at for the next 15 years while Sergey shits on it every week
Oliver Clark
FA is still strong af. There aren't any oracles that are near chainlink so it has legs imo
Michael Morales
>TA above FA Ngmi
Nicholas Richardson
Looks oversold to me Link isn't going anywhere, and once we get into the next alt season it will easily break its ATH
Dylan Allen
agreed that link has the best fundamental value across the board with eth and btc. But that does not mean its value relative to both assets should ever be higher than it was at the top of this summer pump
Levi Lewis
if there’s a RAM in it there’s likely a LINK in it follow the money ifykyk ramifi 1bn market cap EOY 2021
>why don’t you just guess the correct number on roulette?
Connor Adams
please refer to
Alexander Rivera
D E L U D E D
Juan Flores
Explain July 2018. You conveniently left out the history before 2019
John Rivera
>Summer was the top user i.....it's only just begun man. Staking a not even out, and link has only captured ,0001 of its potential markets. Summer was not the top. IDC if btc hits 10mil chainlink will outperform btc unless a black swan happens like Sergey or Ari literally dieing
Tyler Collins
That is correct, the death corss happened in July 2018. I did not include it as I was refering to what I believe is the end of this link cycle, that started after the 2018 golden cross.
Jose Allen
okay, I really hope so. Sometimes I look at the eth/btc chart and I literally shiver
Christopher Mitchell
So you’re basing your entire valuation of a coin based on a single purple line? Lol never change Zig Forums
Justin Richardson
Linketh chart is pretty meaningless. So is linkusd. Linkbtc is pretty much the only link chart that matters for long term link TA. You know this in your heart.
Christopher Diaz
yes
Jaxson Carter
I will buy back in again when this hits $3. Another bitcoin pump above 20k is going to rip alts in half, again.
You have a good point OP ETH did an absolute swan dive in 2018 after the cross. There was a fairly similar crossover for in 2016 as well though and look at how it did after recovering. I think it's way too premature to be calling tops for LINK when it's still so early in its development.
