Author: 3HOUSE user @RickTrader

LINK is a popular cryptocurrency that has been gaining attention in the blockchain and cryptocurrency world since its launch in 2017. LINK is the native cryptocurrency of the Chainlink network, a decentralized oracle network that connects smart contracts to real-world data and events.

The Chainlink network aims to solve one of the most significant challenges facing blockchain technology: the inability to interact with off-chain data. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They run on blockchain technology and can facilitate the exchange of assets without the need for a central authority.However, smart contracts are limited by their inability to access real-world data. This means that smart contracts cannot interact with external data sources such as APIs, off-chain databases, or payment systems. This limitation makes it difficult to use smart contracts for real-world applications such as insurance, supply chain management, and financial derivatives.

The Chainlink network solves this problem by providing a decentralized oracle network that connects smart contracts to real-world data sources. Oracles are third-party services that provide off-chain data to smart contracts. They act as a bridge between the blockchain and the real world, allowing smart contracts to access data that is not available on the blockchain.Chainlink's oracle network is decentralized, which means that it is not controlled by a single entity. Instead, it is operated by a network of node operators who provide data to the network. These node operators are incentivized to provide accurate data through the use of LINK tokens.

LINK tokens are used to pay node operators for providing data to the Chainlink network. Node operators stake LINK tokens as collateral to participate in the network. They receive more LINK tokens as a reward for providing accurate data, and they lose their stake if they provide inaccurate data.The use of LINK tokens as a means of incentivizing accurate data provision is one of the unique features of the Chainlink network. It ensures that the data provided to smart contracts is accurate, reliable, and tamper-proof.

LINK is also used as a means of payment for accessing the services of the Chainlink network. Developers who want to use Chainlink's oracle network to connect their smart contracts to real-world data sources need to pay LINK tokens to access the network's services.The use of LINK tokens as a means of payment for accessing the Chainlink network creates demand for the token. As more developers use the network, the demand for LINK tokens increases, which can drive up the price of the token.

Overall, LINK is a cryptocurrency with a unique value proposition. It is the native cryptocurrency of the Chainlink network, a decentralized oracle network that connects smart contracts to real-world data sources. The use of LINK tokens as a means of incentivizing accurate data provision and as a means of payment for accessing the services of the Chainlink network creates demand for the token. As a result, the price of LINK has been increasing steadily, making it an attractive investment opportunity for cryptocurrency investors.

OVERALL MARKET CONDITIONS:

Let’s take a look at market overview first to see our key points and current state we are in. By looking and S&P500 we see that

SPX is currently at next resistance zone which I think will be taken. That is perfect sign for crypto market. We recently broke above the trendline and are slowly climbing to the topside in order to break major resistances and start big relief on the market itself.

Recently we also had reports from biggest companies performance which went really well. Those results still didn’t hit market yet and we are about to see decent volatility next week.

DXY is also falling down retesting downtrendline and taking supports out 1 by 1. With upcoming inflation news we can see big drop that will make crypto market perform really good overall

Right now BTC is sitting in consolidating area for a longer period of time. We just tapped support and are about to aim for resistance retest. If price manage to follow SPX and gain momentum we can see possible breakout to the 32k-32.5k where is next major resistance. Overall market is pumping because of good economy and dropping inflation rates.

RSI is sitting at 54.86 when it comes to daily TF and that is good sign for upcoming push. If we manage to hold above 50 and cross 60 breaking resistance at 31k is just a matter of time :).

Fear&Greed index is green at 60 now so that means a lot of people are interested in investing on the market

Lets get into $LINK analysis now to see how it can perform during btc push!

When it comes to chart itself: We can see that we had liquidity grab performed in bulls direction taking a lot of trades out from market. I don’t see any point for price to go down because all of Voids have been already filled and OBs popped for big whales. When it comes to potential movement to the topside: We have 2 big fvgs along the way and big supply zone which signaled big red momentum candle. Chat looks really promising when it comes to 4h TF with super tight SL just below current liquidity. I want to place it there since we can have liq wick retest and our SL needs to have some more room for potential wickoff.

How does it look on daily TF?

We have 4h tps market also on some crucial points: TP1 at VOID previous fill and almost at the top of liquidity, TP2 at previous liq grab wick and TP3 just at highest local HIGH which was retested 3 times already.

RSI on daily shows 43 status which good sign for us since its bearish but I’m personally looking for bullish div that will flip current trend and push us higher.

When it comes to volume we can see that we are in the biggest volume point of our trading range that means once it will get released it will be a good push for us

Lets mark our tps, entry and SL:

ENTRY ZONE: 6.954-6.829

SL: 6.659

TP1: 7.443 (SL at entry, 30% out)

TP2: 8.390 (40% out)

TP3: 9.47 (REST OUT)

CHAINlink in current market condition looks really solid. With upcoming btc push TP2 is very much possible with even probability of quick hit of TP3. I’m super excited for upcoming month and for newest inflation reports. Market is slowly rebuilding and we are entering bullish momentum on daily and even weekly timeframes. When it comes to alt season:This is another reason I believe alts will outperform BTC and ETH soon. Once btc spikes to around 32-33k and consolidate here lowering btc domination on the market ALTs will spike and move with insane % gain on daily basis. Chainlink itself is also perfect investment for holding it LONG term on spot wallet just because of usefulness and big partnerships.

This is not trading advice, and any actions taken based on this information are solely at the reader's discretion. We do not make any guarantees or warranties about the completeness, reliability, or accuracy of this information. We encourage readers to do their own research before entering the market.

Author: 3HOUSE user @RickTrader

LINK is a popular cryptocurrency that has been gaining attention in the blockchain and cryptocurrency world since its launch in 2017. LINK is the native cryptocurrency of the Chainlink network, a decentralized oracle network that connects smart contracts to real-world data and events.

The Chainlink network aims to solve one of the most significant challenges facing blockchain technology: the inability to interact with off-chain data. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. They run on blockchain technology and can facilitate the exchange of assets without the need for a central authority.However, smart contracts are limited by their inability to access real-world data. This means that smart contracts cannot interact with external data sources such as APIs, off-chain databases, or payment systems. This limitation makes it difficult to use smart contracts for real-world applications such as insurance, supply chain management, and financial derivatives.

The Chainlink network solves this problem by providing a decentralized oracle network that connects smart contracts to real-world data sources. Oracles are third-party services that provide off-chain data to smart contracts. They act as a bridge between the blockchain and the real world, allowing smart contracts to access data that is not available on the blockchain.Chainlink's oracle network is decentralized, which means that it is not controlled by a single entity. Instead, it is operated by a network of node operators who provide data to the network. These node operators are incentivized to provide accurate data through the use of LINK tokens.

LINK tokens are used to pay node operators for providing data to the Chainlink network. Node operators stake LINK tokens as collateral to participate in the network. They receive more LINK tokens as a reward for providing accurate data, and they lose their stake if they provide inaccurate data.The use of LINK tokens as a means of incentivizing accurate data provision is one of the unique features of the Chainlink network. It ensures that the data provided to smart contracts is accurate, reliable, and tamper-proof.

LINK is also used as a means of payment for accessing the services of the Chainlink network. Developers who want to use Chainlink's oracle network to connect their smart contracts to real-world data sources need to pay LINK tokens to access the network's services.The use of LINK tokens as a means of payment for accessing the Chainlink network creates demand for the token. As more developers use the network, the demand for LINK tokens increases, which can drive up the price of the token.

Overall, LINK is a cryptocurrency with a unique value proposition. It is the native cryptocurrency of the Chainlink network, a decentralized oracle network that connects smart contracts to real-world data sources. The use of LINK tokens as a means of incentivizing accurate data provision and as a means of payment for accessing the services of the Chainlink network creates demand for the token. As a result, the price of LINK has been increasing steadily, making it an attractive investment opportunity for cryptocurrency investors.

OVERALL MARKET CONDITIONS:

Let’s take a look at market overview first to see our key points and current state we are in. By looking and S&P500 we see that

SPX is currently at next resistance zone which I think will be taken. That is perfect sign for crypto market. We recently broke above the trendline and are slowly climbing to the topside in order to break major resistances and start big relief on the market itself.

Recently we also had reports from biggest companies performance which went really well. Those results still didn’t hit market yet and we are about to see decent volatility next week.

DXY is also falling down retesting downtrendline and taking supports out 1 by 1. With upcoming inflation news we can see big drop that will make crypto market perform really good overall

Right now BTC is sitting in consolidating area for a longer period of time. We just tapped support and are about to aim for resistance retest. If price manage to follow SPX and gain momentum we can see possible breakout to the 32k-32.5k where is next major resistance. Overall market is pumping because of good economy and dropping inflation rates.

RSI is sitting at 54.86 when it comes to daily TF and that is good sign for upcoming push. If we manage to hold above 50 and cross 60 breaking resistance at 31k is just a matter of time :).

Fear&Greed index is green at 60 now so that means a lot of people are interested in investing on the market

Lets get into $LINK analysis now to see how it can perform during btc push!

When it comes to chart itself: We can see that we had liquidity grab performed in bulls direction taking a lot of trades out from market. I don’t see any point for price to go down because all of Voids have been already filled and OBs popped for big whales. When it comes to potential movement to the topside: We have 2 big fvgs along the way and big supply zone which signaled big red momentum candle. Chat looks really promising when it comes to 4h TF with super tight SL just below current liquidity. I want to place it there since we can have liq wick retest and our SL needs to have some more room for potential wickoff.

How does it look on daily TF?

We have 4h tps market also on some crucial points: TP1 at VOID previous fill and almost at the top of liquidity, TP2 at previous liq grab wick and TP3 just at highest local HIGH which was retested 3 times already.

RSI on daily shows 43 status which good sign for us since its bearish but I’m personally looking for bullish div that will flip current trend and push us higher.

When it comes to volume we can see that we are in the biggest volume point of our trading range that means once it will get released it will be a good push for us

Lets mark our tps, entry and SL:

ENTRY ZONE: 6.954-6.829

SL: 6.659

TP1: 7.443 (SL at entry, 30% out)

TP2: 8.390 (40% out)

TP3: 9.47 (REST OUT)

CHAINlink in current market condition looks really solid. With upcoming btc push TP2 is very much possible with even probability of quick hit of TP3. I’m super excited for upcoming month and for newest inflation reports. Market is slowly rebuilding and we are entering bullish momentum on daily and even weekly timeframes. When it comes to alt season:This is another reason I believe alts will outperform BTC and ETH soon. Once btc spikes to around 32-33k and consolidate here lowering btc domination on the market ALTs will spike and move with insane % gain on daily basis. Chainlink itself is also perfect investment for holding it LONG term on spot wallet just because of usefulness and big partnerships.

This is not trading advice, and any actions taken based on this information are solely at the reader's discretion. We do not make any guarantees or warranties about the completeness, reliability, or accuracy of this information. We encourage readers to do their own research before entering the market.