A well-liked crypto dealer and analyst thinks Ethereum (ETH) and Chainlink (LINK) are due for an additional run in direction of new all-time highs.
The crypto dealer often known as Pentoshi tells his 270,500 Twitter followers that the sensible contract platform Ethereum (ETH) is wanting bullish on each the USD and BTC pairing after breaking downwards resistance.
“$ETH / USD pair now
Simply broke down trendline
But additionally [higher low] after [support/resistance] flip on a sneaky retest
There’s completely nothing bearish about any of those charts on any pairs. However particularly the $BTC pair”
Supply: Pentosh1 / Twitter
Supply: Pentosh1 / Twitter
“I believe it’s time for $ETH / $BTC
Consolidating for 10 days
[Higher High / Higher Low] intact on 1D and [higher time frame] Macro chart
Towards trendlines now
Closing transfer to .10-.125 [BTC] ($4,811-$6,013)
[Lower time frame’s] exhibiting indicators of on the point of [bottom out in my opinion]”
Supply: Pentosh1 / Twitter
Supply: Pentosh1 / Twitter
Trying on the decentralized oracle community Chainlink, Pentoshi is anticipating a run to $32 after forming a triple backside on the charts.
“$LINK replace
At [lower time frame] resistance. Appears to be like like $32 subsequent. Good quantity coming in off triple backside and a pleasant inefficiency to fill
Above that = $36-37”
Supply: Pentosh1 / Twitter
Stacked up in opposition to Bitcoin, he notes that the oracle token seems to have reached a backside and is forming greater highs in opposition to the highest crypto asset. He’s anticipating LINK to make a run to the 0.0011952 ($57.60) BTC stage.
“Lastly I really like the similarities of what’s constructing right here from its largest previous rally on $LINK
The weekly is screaming bottomed and forming a fast succession of [higher high + lower low] now the previous months. Markets love symmetry so I imagine the correct aspect will match the left principally in time”
Supply: Pentosh1 / Twitter
As for Bitcoin itself, Pentoshi highlights that BTC is printing greater quantity and just lately simply had a golden cross on the each day shifting common indicators, traditionally noting a optimistic shift in momentum for the crypto markets.
“Shhhhh it’s okay
BTC now with the golden cross as a [moving average] dealer
And *squints*
A bullish engulfing candle that engulfs 6 days of bearish backside sellers on dare I say… elevated quantity?”
Supply: Pentosh1 / Twitter
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Featured Picture: Shutterstock/KHIUS
