Chainlink Bullish Signal Stands Firm, But Bitcoin Is Calling The Shots
CRYPTOWZRD noted in a recent update on X that Chainlink ended the session with a bullish close, hinting at potential further gains ahead. However, the analyst emphasized that Bitcoin will ultimately dictate the move. Keeping a close eye on the intraday chart, the expert mentioned that an early pullback could present a scalp opportunity, as long as Bitcoin aligns with the bullish outlook.
Breakout Likely With Strong Daily Candles
Breaking down his latest analysis, the trader explained that LINK’s daily candle officially closed bullish, marking a key technical point in the current trend. Meanwhile, LINKBTC ended the session on a positive note, which adds weight to the bullish outlook for LINK in the short term.
However, the analyst emphasized that more bullish daily closes on LINKBTC are needed to confirm momentum. A continuation of strength could lead to an impulsive breakout above the daily candle’s lower high trendline, igniting the next leg upward.
A decisive move above the 0.000140 BTC resistance zone is expected to accelerate price action for LINK, giving bulls a clear signal to push higher. If momentum continues to build, LINK could rally toward the $16 resistance level, marking a major target for the current setup. For now, $12.50 remains a key support level on the daily timeframe and will act as a cushion if bearish pressure reemerges.
Looking ahead, the analyst pointed out that Bitcoin and Bitcoin Dominance will remain the primary market drivers for Chainlink heading into the weekend. While maintaining a rational outlook, CRYPTOWZRD plans to monitor LINK’s intraday chart closely for any developing setups.
Awaiting Chainlink Next Trade Setup
In conclusion, CRYPTOWZRD emphasized that LINK’s intraday chart is showing signs of a bullish recovery, closely aligned with Bitcoin’s recent rebound. He expressed optimism that further upside is likely if current conditions persist, particularly if Bitcoin maintains its strength.
Despite the encouraging signs, CRYPTOWZRD noted that a temporary bearish pullback would be both natural and healthy within the current market context. Pullbacks often reset market conditions, providing better structure for stronger continuation patterns. He believes such a retracement could offer a favorable early entry point for long positions, especially for short-term or intraday traders looking to capitalize on the volatility.
As the market continues to evolve, CRYPTOWZRD advises traders to wait for clear confirmation of the next trade setup before taking action. His statement emphasized that strategic patience will be key in identifying the most rewarding opportunities. For now, traders should track price behavior closely and prepare to act swiftly when the next valid entry signal presents itself.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Uber Technologies stock closes 3.43% lower; 15-minute RSI sits at 27.11
Counter-terrorism forces take to the streets, Louvre closes! France erupts in a new wave of protests over the weekend, with turmoil threatening to spread across Europe
France is engulfed in a new wave of violent protests, with 70,000 security personnel deployed urgently and curfews imposed in multiple cities. Macron admits to mishandling the response. Financial markets have sounded the alarm early — the spread between French and German government bonds has surged to its highest level since the European debt crisis, PMI has fallen below the threshold for expansion, luxury shops have boarded up windows, the Louvre Museum has closed, and Paris City Hall estimates losses of tens of millions of euros. The turmoil also threatens to spread across Europe.
Bitcoin Miners Are Fleeing to AI: So Why Is the Hash Rate Surging?
Once frenzied buying, now the "ammunition warehouse" shrinks by 51 trillion KRW! Korean retail investors can no longer afford to buy
In four months, Korean retail investors' "ammunition stockpile" has dropped by 36.5%, returning to levels seen at the beginning of the year. Although retail investors have collectively made net purchases exceeding 75 trillion won, they are still absorbing the sell-off, but the influx of new funds has dried up, and the replenishment rate lags far behind the consumption rate. Combined with the KOSPI plunging nearly 20% this month, continued net selling by foreign investors, and concerns over AI-related credit risks, the Korean stock market may find it difficult to see a sustained rebound in the short term without support from private investors' funds.
Crypto prices
More
