Chainlink Monthly

Presented without memelines and with the 21 ema for reference.

Discuss

Attached: 18961616896.png (1526x837, 156.37K)

It do go down

Which direction from here?

I don't know. The only sure thing is that it is now officially in a monthly downtrend (lower high and low confirmed). Question is where will it reverse

it stinks

Either prolonged crabbing or 80% down.

what would be your pivot point?

the monthly low is higher though

If it goes back to 10 dollars I'll buy lots.
If it goes to 5, 6 or 7 dollars I'm going to load up. I really, really, really hope this happens, which means it won't.

? can you point it on the chart? You know we're talking about close prices right? that's the whole point of looking at a monthly

Around 6.50, if it gets that low, I'd back the truck up and sell my organs.
Yearly pivots are at 2.70, I doubt it'll go that low ever but if we have some mega black swan then ??

Every alt chart looks like that. What do you expect with king shitcoin crapping the bed 2 months straight.

Yeah the usd and btc charts look fucking horrible. The eth chart has a glimmer of hope.

This is something people underplay, most alts have been murdered exactly the same. Especially defi alts.

>log chart
discarded

Attached: 19655203698.jpg (200x202, 5.89K)

>close prices
if that's the case the lower low has been achieved since December, so how does it become "official" only now?

log captures actual growth and momentum, absolutely no reason not to chart it.

Truth hurts

Attached: painfultruth.png (1529x834, 211.34K)

that december candle doesn't look like a lower lower to me, about on par with the previous one.

? log does not change the highs and lows. Just makes smaller price action easier to read. I haven't drawn any diagonal so does not change anything

Attached: 1634670740854.jpg (447x438, 15.72K)

on this chart the december close is just slightly higher than the June 21 close

it isn't, but the closing price is lower than all the previous months so according to the OP that constitutes as a lower low

i can see where on that chart i bought in 2017
it still hurts

on the Binance chart the december close is literally 1 cent lower than June

volume accelerating, whales are exiting en mase

benchod

a lower low refers to the oscillation, so it would have to be lower than the previous swing down not just the months before

I agree with you

ok so that qualifies as a lower low on that chart

ok so we're not "officially" in a monthly downturn just now, it is already 2 months old

well if what you said about the binance chart is true then yes on this chart. Now, as link used to be in an uptrend until then, one could say that there was still a doubt in december as the lower low wasn't really clear. But now there's no doubt.

Its OK to be bullish on chainlink