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Decentralizedoracle

Bullish pattern breakout apparent & next resistances to watch*DISCLAIMER: I am not a financial advisor and this is not financial advice as these are purely my opinions and speculations. I may also own or trade any of the symbols and cryptocurrencies mentioned in this video so do not make your trading or investing decisions based on this video. I do not guarantee any results nor am I responsible for your actions. You should always do your own due diligence before trading or investing in this market as it is extremely risky. Affiliate links are also included in this same video description section here and if you decide to support me by using any of them, I may receive a referral bonus or commission. *Follow me for the latest cryptocurrency analyses on my watchlist *Thank you to those who donated, I very much appreciate it. *Let me know in the comment section if you agree or disagree, would love to hear your ideas too.
BINANCE:YFIUSDLong
by CryptoRush_
Is LINK Regaining Bullish Momentum?As a decentralized oracle critical to many DeFi projects, LINK has had a fantastic year in 2020, pushing up gains of 1,000% at its peak of $20. However, since Mid-August, the token has been caught in a descending channel. LINK recently broke this channel, and many people are now wondering whether this is the start of a new uptrend or a temporary move before continuing its downtrend. Read on to find out! When Can we Confirm an Uptrend? After bouncing off the $7.3 support level, LINK broke the descending channel and attempted to break the resistance between $11.3 and $11.85. However, just because it broke the descending channel, that doesn’t necessarily mean that it will now start uptrending. The token may consolidate for a while before beginning an uptrend. LINK made a new high following the bounce at $11.2, just before the resistance. Breaking this resistance is critical, as it will be seen as a higher high and a confirmation that we are in an uptrend and not in a consolidation phase. Looking Ahead: If LINK starts an uptrend, the next major resistance levels on its way to the all-time high are 14$ and 17.5$. If the support breaks and LINK starts a downtrend, then the next support levels stand around $6.6 and $5.7.
Long
by cryptohopper
2
LINK- Multi-time frame and fundamental/Macro analysisDespite Link's fundamental shortcomings, we need to realize that crypto is driven partially by euphoric sentiment and market signal is often times, more important than macro signal, at least in the short run. While the time of reckless speculation may be gone, we can't overlook the effect that DeFi craze and the resurgence of crypto bull market may have on the speculative behaviors. If you bought Link cheaply, congraztz and enjoy the ride. If you are like me, treat it as a deeply discounted swing buy opportunity like most cannabis stocks, just wait patiently until the price drop to the buy zone in my chart without taking on the excessive amount of risk. For short-term speculators, set the wide stoploss in order to avoid the stoploss hunt for over-leveraged longs and be prepared to take loss when the parabolic run ends and the trend line is broken. Link is showing some technical weakness at 4hr time frame, but remains strong and trendy on the daily time frame. Volume reached ATH yesterday and doesn't seem to be slowing down anytime soon. Fundamental and Macro- 1. No clear timeline of Mainnet launch. 2. Unnecessary intermediary and permissioned structure run the risk of being labeled as security token by SEC (Why not just start the centralized oracle?). This argument has been valid for a long time and it is the reason why many investors prefer currency coins (specifically anon coins) and platform tokens over utility tokens. 3. According to Zeus capital, Link's marketcap is way bigger than the decentralized oracle's projected TAM. This can only be justified if TAM is rapidly growing, which isn't true as Link's clients are mostly DeFi platforms, or if LINK can capture nearly 100% of TAM. The latter is impossible as MakerDao, Compound, Uniswap and Coinbase are developing the internal alternatives. Not to mention many centralized lenders such as Genesis and Nexo that indirectly affect Link's value proposition and user case. Don't forget to follow me and like the post. Much appreciated!
KRAKEN:LINKUSD
by Libratus
4