$LINK I tend to be more, but don’t chase: this time it isn’t a single needle. Spot prices have been rising with volume for two consecutive hours. Binance has completed the candlestick display; from Beijing time 16:00–18:00 it moved from 13.50 to 14.12, with total turnover of about 17 million USDT. In the first two hours, it was about 4.85 million—about 3.5x larger. In the same period, BTC rose about 0.6%, and LINK rose about 4.6%. Relative strength is there, but turnover alone can’t be taken as net inflow directly.
Look more closely at the 15-minute chart: at 17:00 it pulled back to 13.83, then reclaimed 14 afterward; at 17:45 it closed at 14.12. This is more convincing than a momentary spike that leaves a long upper wick. However, the 16:15 candle had turnover of about 3.95 million USDT; afterward, single-candle turnover has fallen. Whether the follow-through continues still needs the next round of confirmation. I only take this as an improvement in spot price and volume, and I don’t piece together past collaboration news to form today’s rally cause.
The confirmation criteria are: in the subsequent full hour, hold above 14, and then break through 14.17 with increased volume. If the full hour closes back below 13.83, the short-term strength should be downgraded. Rising fast doesn’t mean it’s being undervalued. First, see whether the price can hold after the breakout on higher volume. #LINK #Chainlink #volume-price
Look more closely at the 15-minute chart: at 17:00 it pulled back to 13.83, then reclaimed 14 afterward; at 17:45 it closed at 14.12. This is more convincing than a momentary spike that leaves a long upper wick. However, the 16:15 candle had turnover of about 3.95 million USDT; afterward, single-candle turnover has fallen. Whether the follow-through continues still needs the next round of confirmation. I only take this as an improvement in spot price and volume, and I don’t piece together past collaboration news to form today’s rally cause.
The confirmation criteria are: in the subsequent full hour, hold above 14, and then break through 14.17 with increased volume. If the full hour closes back below 13.83, the short-term strength should be downgraded. Rising fast doesn’t mean it’s being undervalued. First, see whether the price can hold after the breakout on higher volume. #LINK #Chainlink #volume-price
