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chain link has a huge opportunity right here on this chart potentially I want to highlight something to you that looks absolutely huge and it is actually to do with this breakout that weve just managed to form within basically just above the middle of our range weve kind of had resistance like here or up here and weve broken these levels and it looks like there could be some really cool potential for links so let me break this down for you lets take a look at it on this chart right right here real quick because what weve got is an ascending triangle on link where just on the very short term chart recently basically since the middle of last month only up to now so this is only a month-long um chart pattern link has been punching in higher lows with this ascending triangle and keeping the same ceiling which is absolutely huge because it potentially represents a big move to the upside incoming which is exactly what we got you guys know weve been bullish on link on this channel for a while uh you know just because its kind of been like a sleeping giant and it looks like it could be finally waking up now whats really cool about this is that this um pattern expand the 16.6 percent range and if we actually just take that to our breakout point and see if weve got a Target that gives us an 8.90 Target which is really interesting because its exactly where we would expect resistance this is where link has been really struggling to top uh to break uh throughout the course of 2022 this was actually what was really suffocating link and when link was first pumping up back in 2020 this is also where link was Finding support and resistance so this is a historically extremely important price level and that is exactly what our Target is pointing through now whats really big about this is the fact that link is already moving up there so this is actually one of those situations here where were already well on our way to fulfilling this target which just generally a lot of people would agree that that makes it even more likely that its going to happen right like something is more likely to finish if youve already started it and in this case were already halfway through which is a really big deal now this is opening up a lot of cool trading opportunities Im going to cover with you in just a second but I want to highlight to you that link is available to trade on buy a bit linked down in the description down below along with everything else that I speak about with you and whats really cool about this is that you can actually trade link with up to 30k in free trading ammunition that Bible is going to give you just free cash any profits you make are yours to withdraw really really cool and while youre checking that out as soon as you sign up to Vibe it and make your first deposit of over a hundred dollars anywhere between now and next month you are going to be entered into an iPhone 14 pro Max giveaway so even if you dont trade even if you just put the money on there and dont do anything with it youre still entered into the giveaway so definitely check that out if youre interested and lets take a closer look at why this is looking pretty cool to trade its the fact that this resistance area is actually the very top of my range that I had drawn with a box these are basically the same charts showing you the same thing in different ways where this is the top of the range in my book and we are now on our path up to get that now whats really interesting is that if we do end up breaking this area of resistance we have another area of resistance significantly higher but nothing in between this is a really big deal between this green box and this green box on this very long term chart where each candle is just one week of price action instead of you know four hours you can see that theres no significant price interaction between these boxes usually when the price is in these levels it just Falls all the way down or it rises all the way up on these Wicks all the way down and then all the way up but whats very clear is the price doesnt pause in this range between the the price areas of 9.40 and 12.80 the price doesnt pause it just whatever Direction its going in it keeps firing off in that direction and the reason thats a big deal is that this is an 80 move to the upside that we could be looking at from the breakout point which is huge because thats a lot of upside potential and if link is just waking up now this is well worth paying attention to it might not materialize into anything right there are some real limitations with this analysis and with this coin the biggest problem that I have with this chart is the fact that weve faked out above this line so many times that its almost not even worth paying attention to this until we get above those fake out points but once we get above those fake out points which would be anywhere say above 8.40 were already very close to our price Target but that doesnt matter because the fact is were making another attempt to the highs but this time bitcoins in a really strong position previously when we were trying to attempt to break these highs whether it was in the middle of February or uh you know right right at the FTX crash or even afterwards the whole time the market hasnt been in a particularly amazing situation right like its not like there was I mean we look at like the Four Flies dashboard for example just to get a really easy quick scoop on the market um you know fear and greed index at 69. um actually wow look at this long and short ratio now equal for retail but still leaning more shorts on buy but um you know the fact is is that the Markets just like more optimistic now I mean the fair and greed index more than anything else shows us that very clearly and if thats the case to me that might mean link has a better chance at making its way all the way up to that Target what do we need to do now well quite simply I want to see a pullback um we havent seen a big pullback when we initially got the breakout we did get a pullback uh instantly pretty much so thats good but I want to see a longer term pullback just to show me that this is more legitimate price action I think that with a coin like link were very likely to get this kind of pullback because it moves really slowly um you know link has been doing nothing for so long um and its tagged like every price area uh you know within this range you have to tag the very top just tag the very bottom and its very familiar with what happens in the center as well what we havent really done is we havent traded in this range up here like in the top quarter of the range very much so that would be interesting to see how the price interacts so this level probably very quickly were probably just going to repeat this move just like a straight rocket ship up but maybe coming back down to find a bit of support uh would make some sense for link and if it does uh you know to me thats going to open up even more opportunities just to trade because thats going to mean that the coin that looks really sensible and therefore perhaps a little bit safer to trade as well so that is something that Im going to continue to keep an eye on and of course Ill give you guys updates on this YouTube channel if youve enjoyed it you know exactly what to do head on to the description to get your 30k on buy bit and enter into the iPhone 14 pro Max giveaway make sure that youre watching this on the daily Channel not on the main Channel if this video has been uploaded to the main Channel youre getting it very late so follow the link to the Daily Channel and with that I will see you all the next one thank you all so much for watching and Im out cheers This Bitcoin and Cryptocurrency trading analysis applies to various exchanges. Tackling questions like if Bitcoin can reach all-time highs again or how low BTC will crash. Things like the lightning network have provided huge improvements for BTC and while it is true that others like Roger Ver with Bitcoin Cash bcash may disagree, I do see these blockchain technology innovations to be very bullish fundamental signs for the space. Forflies Daily Channel: This description contains paid sponsors and affiliate links. ๐๐๐๐๐๐๐๐๐ ๐ ๐๐๐ - ๐๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐๐๐ Exchange: Register to get up to $20,000 Bonus AND low trading fees!: ๐๐๐๐๐ Exchange: Register to get up to $30,000 Bonus + 0% Spot Trading Fees : ๐๐๐๐๐ ๐๐๐ Exchange: Register & earn up to $7,000! Use promo code โForfliesโ for bonus ๐๐ฎ๐ฑ ๐๐ฅ๐ ๐จ Indicator: Get 20% OFF with code FORFLIES: ๐๐๐๐ฎ๐ซ๐ ๐ฒ๐จ๐ฎ๐ซ ๐๐ซ๐ฒ๐ฉ๐ญ๐จ with Ledger : ๐๐๐๐ ๐๐๐: Use code: forflies ๐๐ซ๐๐๐ข๐ง๐ ๐๐ข๐๐ฐ: Where I chart BTC ๐
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