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
— //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
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