Top Crypto Analyst Sees Capitulation on the Horizon for Chainlink As Bitcoin Approaches Key Resistance

Monday 21 September 2020, 1:07 AM AEST - 1 month ago

‏‏‎

Widely-followed crypto strategist and trader Bitcoin Jack is expecting a final leg down before Chainlink (LINK) ignites a massive bull rally.

In a new Twitter post, the crypto analyst predicts that the decentralized oracle network will take one more dip to $8 before exploding 300%.

Stinkbids on $LINK at $8 – $9 and accumulating some now around $10. Invalidation if price starts fucking around below stinkbids & will build more size if trend confirms. I think this is going to $28 – $32 on the next run.

Source: Bitcoin Jack/Twitter

Chainlink was one of the hottest crypto asset this year after climbing to an all-time high of $19.85 on August 16th, according to CoinMarketCap, on the way to becoming the fifth-largest cryptocurrency. The token has entered a vicious corrective period since, losing more than half of its value in less than a month.

Meanwhile, Bitcoin Jack is also keeping a close watch on BTC as it approaches a key resistance level. The trader is starting to take profits as he expects the crypto king to struggle around $11,400.

Delivery of target region & 60K followers at the same time

I appreciate it https://t.co/rVP9FjgT8i pic.twitter.com/DcFICBbvKp

— //Bitcoin 𝕵ack (@BTC_JackSparrow) September 19, 2020

While the crypto strategist is short-term bearish on BTC, he believes in the digital golds long-term potential. He tells his crew of 60,000 why he thinks the worlds leading cryptocurrency is bullish from the high timeframe (HTF) perspective.

7 technical reasons to be HTF bullish on Bitcoin

>lagging span breakout

>cloud support

>horizontal support

>diagonal support

...

Read full story on The Daily Hodl

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.