Could Ethereum Be Worth More than Bitcoin?InvestorPlace And, in fact, Ethereum has outperformed Bitcoin handily so far in . The run extends even further. Over the past 12 months, it s returned 1,300% against 931% for the better-known crypto . What happens to $ETH after the merge on 19 September? The impacts of the Ethereum merge will be vast because of the large number of protocols and DApps based on Ethereum. The integration aims to make Ethereum more efficient, scalable, and sustainable. The recent few months brought many blockchain companies into a tumbling state because of the upsetting losses. chainlink tesla CHAINLINK - LINK TOKEN TECHNICAL ANALYSIS AND PRICE PREDICTION
hey what is going on Welcome Back to the channel in this video were going to be taking a look at chain link I do want to say that Im not a financial advisor you should do your own research before investing money into crypto if you havent seen the previous update make sure to watch that before watching this one so that you have more context that will be linked in the top right hand corner of your screen also if you want to support Ukraine you can do so by going over to the official websites I linked down below you can go and donate to the funds directly thank you all for the support and thank you all for watching the video feel free to share if you feel like this video is going to help out someone now lets jump into the technical analysis so as you can see right now we do have two channel patterns on our chart over here and if you want to take a look at the February tracement that I have on then Im gonna show you so this is the swing low that I have July 19th of 2021 and the swing high is over here in May of 2021. our 1.618 Target was over here at five dollars and fifty cents we reached that Target multiple times within the past couple of couple of months I would say in the past four months we retested that zone multiple times so he had great entry points and from there we did have a move to the upside of around about 60 percent 70 percent two times so once in June and once in August and right now we are in this yellow Channel up pattern and potentially with the announcement of staking next week we could see a nice move towards the upside and we do have another Fibonacci retracement if I just remove the larger one you can see that we have a smaller FIB retracement here with the swing height that we printed in August and the swing load that we printed at the end of August now the 1.618 target here is at 12.35 and thats going to be our Target if we start breaking through the swing High here and that could happen with the announcement of the staking we could see a nice little move to the upside we get over extended and overbought very quickly and thats when you can take some profits I personally have some sell orders at these extension levels and if we manage to get there Im going to take profit on my chain link and Im gonna buy back in here at 8.66 and 9.49 those will be good dollar cost averaging opportunities for chain link now although that is not guaranteed I do expect some sort of a move to the upside we might not get to 12 dollars per se but your minimal Target is going to be the 1.272 at 10.66 which still from where we are right now that is going to be a very nice um let me get uh thats going to be a very nice 36 trade so you are looking at some sort of a break out of this Channel with the announcement and potentially you could come back down and retest this previous resistance of the channel as support and chain link has a history of Performing well during bear markets and this time can be no exception and we can see a very nice continuation of this trend moving forward to the end of 2022. now what could also happen obviously is we can dump all the way down and we can dump and retest the support of the channel down pattern here of the blue Channel which I do think is highly unlikely for that Bitcoin would need to drop in my opinion uh below sixteen thousand dollars right and even at that you do have a trend line here and ascending or I should say descending wide support trend line that we have retested in May in May once again then couple of tests in June and since then we havent back tested this so as you can see you may land on this white trend line without even reaching the bottom of the blue Channel pattern so have this out on your chart you can potentially dump all the way down there below five dollars which still I think is highly unlikely but you should have this on your chart regardless just in case you start coming back down and you see the price chilling above this trend line then youre gonna know that this is a golden opportunity to enter and even without all these trend lines if you look at length below five dollars thats a golden opportunity without even all the technical indicators and stuff so yeah just keep in mind that you may dump because Bitcoin is uh potentially gonna have one last capitulation we need to see the miners capitulate before we can uh you know say that the the bottom has been set but for now our bottom is here in June for most of the projects and we have been retracing to the upside from there a lot of the old coins Ive started a channel up pattern from the June bottom just like chain link did but most of the most of the altcoins already dropped out of the channel up pattern and I came back down to where you started retracing from but chain link is very bullish right now with the potential staking being announced um and next week its smart con so expect that and if I zoom in a little bit more here you can see that chain link has retested the support or previous resistance as support of the channel down pattern of the blue pattern here as you can see you broke above it you back tested the blue channel here once and then you did that again here on September 22nd and 21st and from there you have been in a very nice uptrend and youre running into the golden ratio here at eight dollars and six cents of the Fibonacci retracement and you did run into that zone to be honest with you once two times and now for the third time youre running into the same resistance level so this could be a triple top pattern here that were looking at and we may see a move towards the downside from there because if you fail to break through a resistance level multiple times theres a good chance that youre going to come back down to at least where you started retracing from and in this case this is going to be 6.66 so yeah this is something that Im looking at personally and if chain link does drop back down here to 6.50 thats going to be a good level for me to dollar cost average in thats what Im going to be doing I do have a stack of chain link tokens but Im looking to double that actually before we start moving into the bull market so you do have the support of the yellow Channel up pattern so if you start coming back down here that will be a good dollar cost averaging opportunity weve done that once in August we came back down here in July and we had Wix below that in June so yeah feel free to buy in if youre looking um at this channel up pattern jumping into the daily RSI here as you can see were breaking and faking out above this yellow resistance trend line potentially you may run into it once again and from there you could look at another retest of the wide trend line here weve retested it once in May uh once again in August and maybe were looking for that last bounce in September and lets just compare the RSI with the price action just to see if there are any divergences so I would say you dont really see any divergences here as you can see youre printing higher lows over here and from this low to that you technically dont have a bullish Divergence or a bearish Divergence either way so yeah everythings looking normal here for the RSI and yeah the only thing I would look at is a retest of the white trend line if you lose that thats a fire sale in my opinion youre probably going to go back down into the oversold just like you did here in May so yeah be on the lookout Im expecting one last strong capitulation for crypto maybe that will end up in Bitcoin dropping to fourteen thousand dollars maybe not no one knows but either way be ready for both outcomes now lets switch over to the binance website okay Switching over to the weekly RSI here on the binance website as you can see uh we broke out of this falling wedge which is a very very bullish signal let me just get the uh the trend line set up properly here so as you can see we havent really retested this the uh the previous resistance as support here but we did have a pullback after we broke through this multi-month resistance trend line and as you can see you had quite the impulsive move like I said after you have breaks above uh multi-month diagonal resistance trend lines you typically see a strong move to the upside so what I would Target here even with the chain links taking announcing announcement we could potentially run into the 47 on the index on the RSI weve done that once here in December of last year once in March and we may do that once again here in September now also be aware that Im looking for a move to the upside in November just like we have seen a move to the upside for the past two years although the past two years have been in a bull market so right now we are in a bear market so maybe the move to the upside isnt going to be as bullish but nonetheless there might be a move in November to the upside and that will give us guys a very uh large variety of swing trade opportunities so just be aware of that for some reason the trend lines are all mixed up here I dont know what happened so thats regarding the weekly RSI for the stochastic RSI you could wait for us to get overbought here just like we did the last time here in August and like we did here in February and this would be a good time to start dollar cost averaging your way out of chain link if youre looking to swing trade the macd is getting a bit overextended here but if we go back to August of last year you can see that you printed the bullish cross in August uh 2021 you printed a bullish cross here in July of 2022 and youre looking at a very nice uptrend all the way into November and thats exactly what Im expecting here so you could see a nice uptrend into November just like you did in 2021 followed by a capitulation perhaps that is when the miners will capitulate no one knows for sure but uh like I said you just cant guess where Bitcoin is going to go unless you have some you know bearish news coming out or unless you have the fomc meeting ethereums merge or the CPI data coming out which we all talked about on the channel for weeks before those happened and I told you guys that Im expecting pullbacks after every single one of those events and thats exactly what happened but Im not blowing my own trumpet thats just basically using logic and applying it to the charts so if I missed out anything important on the charts please let me know Down Below in the comment section feel free to follow me on Twitter feel free to join me on patreon thats a great way to support the channel and a great way for you to get a lot of exclusive content were dropping weekly podcasts for patrons only and this week were dropping a podcast regarding Bitcoin and where would I expect the Bitcoin price to bottom out at so thank you all for watching think bye-bye Thank you for watching the video! 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