LINK Gonna Crash Soon!

Looks like we got some nice bearish divergence on both the RSI, MACD, and even the Stochastic RSI. In dumbmoney terms, that means it took a lot to get LINK's price to get this high up and it can't be sustained for long.

Attached: linkbtc.png (1503x787, 118.3K)

Same exact thing was said before we ran to $4.99

From my cold dead hands

Why don’t you explain what those three parameters are, how they are calculated, and why you think they are relevant to ChainLink’s chart.

You have to realize that an investment’s chart is partially an exercise in psychology. Chainlink’s Psychological aether is entirely different from your typical investment.

Yeah but global depression

TA applied to a crypto no one really knows about

TA only works for assets that are watched by many people and don't have frequent updates that can make the meme lines irrelevant

t. Proprietary futures trader for 5 years, not some meme retail trader

>Why don’t you explain what those three parameters are

Because it would be a waste of time to tell you about something you're clearly not interested in using.

Chainlink's psychology is based on fear and greed like every other asset.

This is the point I was getting at. I was going to humor OP and give him an opportunity to explain why he thinks his signals are relevant and should be considered, but I guarantee he is some 20 year old reading numbers from a website that he watched a YouTube video about and he doesn’t even understand why those parameters were developed in the first place.

It’s like if OP watched videos about the nutritional needs of diabetics and knew nothing about the biochemical causes and uniqueness of diabetics and any time someone ate sugar he went around saying “YOURE GONNA DIE IF YOU DONT INJECT INSULIN!”

OP, there is a lot of nuance you need to recognize if you want to be a successful trader. One single glance at ChainLink’s chart should suggest to you it is not normal.

>Crypto no one really knows about
>Rank 11 crypto based on market cap

All i see is a trend going up. Anyone see anything else?

I just asked ten of my friends about chainlink and no one heard about it. Get the fuck out of your shit smelling basement for once.

I’m telling you to do this for YOUR benefit in a very Socratic way. Maybe you’ll learn something about your own perspective in the process.

I understand these parameters and am very familiar with them. I’m more interested in what makes you think they are relevant and helpful in trading ChainLink. What previous success have you had? What is your understanding of these signal parameters? How often, historically, have they been completely wrong? Can you even answer any of these questions?

Why did LINK's price go up 2 weeks ago after going down for a week? It's clear as day when you look at the chart but I want to know the dumb money reason.

Attached: dumbmoney.png (653x566, 22.5K)

truth, don't listen to op

Can you answer my questions or not?

The reason it went down and up is manifold: many people panic sold when the price started dropping and bought back in when it rebounded (many people holding link are long term buyers that buy and sell in and out). Also, there was speculation regarding a conference (which is the current instance also). I could list off several other reasons, but can you answer any of the questions I previously asked. If you can’t, you should reconsider your trading career or at least become much more skilled and wise before continuing.

Type until your fingers fall off but DR;NS

Here’s a hint OP:

If you’re using those metrics for Signals and you are making explanations like that for “dumb money”...

You’re the dumb money.

rising wedge, and bearish divergence, but the volume looks very strong, this pump isn't over yet

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Ah, so you're relying on (((news))) published after rallies and dips.

The real reason is LINK broke through and closed above previous highs and went higher for another week. LINK was overbought and needed to retrace which it did for a week

Once LINK let off some steam you can see that right when it touched the previous resistance it broke through a little over 2 weeks prior, it bounced off of it and went higher.

Look at the RSI (first bottom indicator with light blue line) during the bounce 2 weeks ago. See how low it went? Notice the previous low on both the bar chart and RSI. The RSI shows a lower low but the price made a higher low, this is a bullish sign. Smart money already had buy orders there and bought as much as they could which started a bounce and short rally taking the price above previous high.

Or it could just crab

Here's my previous reply in chart form. Study it my frens and see why TA is better than relying on BS news sites.

Attached: TA Explained.png (1503x787, 139.19K)

Oh shit no way, your frens dont know about cl. Ded coin

I guarentee they don't know about ETH, USDT, or BNB either.

My sweet summer child... LINK’s psychology is based on the ramblings of a sperg savant who called himself AssBlster, fueled by copious amounts of autism, Monster, and piping hot tendies fresh out of the microwave. I truly don’t think you understand the sheer insanity behind LINK and its holders; at the very least, you’re greatly underestimating it.

your memelines have no effect on our premined shittoken
the majority is held by literal insane schizos who will never ever sell because they've gone insane and internet cubes are worth infinitely more than fiat money
i know because i am one

>LINK’s psychology is based on the ramblings of a sperg savant who called himself AssBlster, fueled by copious amounts of autism, Monster, and piping hot tendies fresh out of the microwave.
Ah so cozy, for me its Green Zero Sugar Monster Energy (Ultra Paradise), How about you guys?

White Zero Boomer Milk

I definitely underestimated the loyalty of LINK holders. The core of the issue is confirmation bias, it's what kills most traders and hodlers.

Perma-bulls look too far into the future waiting for their shitcoin to reach the price they're 100% sure the coin will reach. No amount of evidence is gonna get them to sell, even if it drops 10+% in a day they proudly post "Not Selling" while their money burns. No stop losses either because they don't believe the coin they worship could possibly go down.

White's a classic, I used to drink it more before green came out

I appreciate your honesty

The thing is though, if you believe a coin you're holding is going to go down, why not sell and set a stop loss?

If it does drop, you were right and can buy in again lower and get more coins. If it goes up then your stop loss will protect you and you'll be back in.

Selling doesn't mean you're out, you're just taking some profit and waiting to see what will happen to the price next. Knowing when to sell is actually more important than knowing when or what to buy, it's what truly seperates the smart money and the dumb money. If you just can't sell because you're afraid of being wrong, you don't belong here. Stocks, Forex, crypto, etc are physiological war zones and sometimes you are your worst enemy.

OP, when we tell you we are different, we know you won't listen. We don't tell you because we want you change your mind. We know we will win and you will lose. We just let you know because winning is boring and predictable for us at this point but it's the I told you so moments like right now that bring us joy and amusement. You couldn't possibly understand. I want you to screencap this thread and look back at it few years from now, when you still scratch your head and wonder how it happened.

Stop lossing is a great way to let (((them))) buy up your Link

Hey nerd when are you buying, I just sold some of my stack at $4.14

That's why you gotta know where to put them. Stop loss hunters know where most fearful traders put them and take them out. You could also only sell a portion of your asset, it doesn't always have to be going all in. Practice makes perfect, if you fail then you didn't lose much.

all wrong
never selling
niggers tongue my anus
and i tongue sergeys

It could crash to 0.25 and I’ll still be able to sell for a profit

>taking profit when itll never be 1.80 again
Thats not how that works op

look at eth’s runup to 50 bucks.

This. Good luck OP, we are still winning.

No one listen to this fag, he wants your precious link. I'll sell 1 link for one first born daughter(female). Don't worry she'll join me at the citadel and be well taken care of alongside the others.

still over 50k sats

This user is very based, and it's a shame you won't give him any credit for what he's trying to do

I'll take your LINK when 80% of Yas Forums threads are people panicking about LINK going below $3.

I drank the white monsters when I was waging, now that I have more free time I drink black coffee.

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You must be new here if you think anyone here is selling their linkies, do you think the drns is fake?

>implying I'll sell
you'll an hero first faglord. get busy fucking if you want them.

Never selling, but I still hope your FUD is correct as I have a heap of cash on sidelines and would love to increase my pajeet ass stack should it dip below $3.

Everyone has a psychological selling price, even altcoin shills. Seeing $2.99 will shake off the loose hands, $1.99 and lower should do the trick for the rest.

Seeing another trendy shitcoin go up could get them to sell their LINK little by little, I'll be waiting then too.

>I'll be waiting then too.
Yes you will

Attached: 1513363633883.jpg (720x720, 100.1K)

>FUD
There is no uncertainty or doubt though, the charts never lie. Stop loss takes care of fear.

here's another (you). Now fuck off back to twitter.

RSI AND MACD

LMAOOOOKO

user, its pumping.

This is uncle oldfag

I can understand hating MACD but who doesn't use RSI?

Still down over 1% after dropping almost 10% in a day, if this is a pump then I can't wait to see what you consider a dump.

Sorry about that, I still had BTC on my mind.

The thing is, all major link holders are religiously permabulls. They will never sell.

You have to understand there are inherent Limitations in Technical Analysis.

already retraced the entire selloff, again

Attached: 14F606F1-7BFA-4EF9-8BF4-BE02FD005309.jpg (750x420, 98.2K)

>comparing USD
you're too new

Oh yeah I know it it's not perfect, but it's better than buying and selling on emotion and news articles. RSI divergence in my experience has a very low fail rate.

Even though they all hate me for daring to question their god I still want to help them. If LINK drops they'll no doubt remember this thread and question their faith.

Don't reply to namefags that don't even know how to trip. They're cancer that ruin boards.

42 is based except when he shills trannies