Chainlink is in a bullish cycle with the formation of higher highs and higher lows. The crypto is still bullish and we are looking to buy at the support level at the price of 13.20 and then continue moving up. The resistance level at $20 would be the profit target. 

The descending trendline is still pending and the breakout buy is about to be broken once the price action is escalated.  

The retracement level of 75% is in confluence with the support level. This means this is a strong support to pump up the price.

EMA 50 is still bearish but once the market starts to move up, the EMA 50 will turn will bullish. 

RSI 14 is at 44. Oscillator needs to drop down towards the over sold region where a bullish divergence can be formed and the market starts moving up.

Chainlink still bullish

Jan 14 2024

Stop Loss -4.27%

Holding time 4d21hr

13.288

Entry price

12.721

Stop loss price