We were bullish on chainlink since the begining and ultimately, it started to bore fruits of our bias of longs. We had earlier bought the crypto at the lower price and now that the market has formed the bullish structure and trend on H4, we are anticipating its continuation upwards towards the next resistance level.

Our stacking price of the pair is at 7.50.

The ascending trendline can be tapped at the support level, retest as a rejection and continue up.

There is no retracement at the moment on this pair.

EMA 50 is bullish and the retest is still due which I might get at the support level to continue moving up.

RSI is at 55 and it needs to be neutralized at the level of 50. From here onwards, the market will align with the technical parameters for the bullish mark up.

Bulls eye on chainlink

Oct 08 2023

Stop Loss -3.97%

Holding time 6hr

7.407

Entry price

7.113

Stop loss price