Trader Says Chainlink (LINK) Flashing Short-Term Bullish Signal As Crypto Market Tracks Sideways

A well-liked crypto dealer says the decentralized oracle community Chainlink (LINK) is flashing a short-term bullish sign.

Ali Martinez tells his 59,300 followers on the social media platform X that the Tom DeMark (TD) Sequential indicator lately offered a purchase sign for LINK on the day by day chart, which he says suggests “a potential one to four-day upswing.”

Merchants use the TD Sequential Indicator to foretell potential pattern reversals for tokens primarily based on the closing costs of their 13 earlier bars or candles.

Supply: ali_charts/X

LINK is buying and selling at $13.81 at time of writing. The 18th-ranked crypto asset by market cap is up greater than 4.5% previously 24 hours however down almost 21% previously week.

Martinez additionally updates his outlook on Bitcoin (BTC), suggesting that the highest crypto asset nonetheless has room to tick upwards within the present bull market.

“Each Bitcoin bull cycle goes through a euphoric phase, signaling a market top. BTC has yet to see that euphoria in the current cycle!”

Supply: ali_charts/X

Martinez additionally notes that greater than 27,700 BTC value round $1.72 billion flowed into accumulation addresses when the highest crypto asset dropped under $63,000 this week.

Supply: ali_charts/X

Bitcoin is buying and selling at $63,262 at time of writing and is up greater than 3% previously 24 hours. It stays down almost 10% previously seven days.

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