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<blockquote data-quote="Deepdiver" data-source="post: 1415464" data-attributes="member: 4603">I had to switch from the Chainlink daily to the 4hour candles chart to see the 200 and 100 (4 Hour Time Intervals) Major Moving Averages.&nbsp; After the Bitstamp Initial Coin Listing pop it dumped to 9.79 on 4 Nov then a proper run up to 16.39 on 23 November.&nbsp; Then a brutal dump to 11.31 on 26 November and basically oscillating the Red 200 Moving Averge in a down Channel with a wicked and suspicious down Red Candle Wick (Wicks are thinly traded pumps and in this case severe Dump) to 8.14 on 23 December back up to Close at 11.81 on 1 Jan 21.&nbsp; So it makes a Sine wave Above and Below the Red 200 4 Hour Moving Average current bouncing between the 9 Green, Blue 20, Yellow 50 Clustered Moving Averages and the Purple 100 Moving Average.Looks like it is another Alt Coin that has suffered a down Trend as people pulling value out of Alts to Ride the Bitcoin Wave 3 Parabolic Impulse move up.&nbsp; Considering Chainlink is a darling of many DeFi projects as an Oracle to Legacy Data - it is exhibiting an alarming amount of Pump and Dump behavior.&nbsp; Chainlink is still in a strong down channel and I would expect more Dump Candle Wicks before the Trend Channel changes upward which would mean some consistent closes above the Upper Trend Channel line.&nbsp; If you really like the project there are likely to be better entry points back around the 9-20-50 MA cluster or lower.&nbsp; It is way too erratic to day trade and do not use leverage as there are clear signs of Whales pumping and dumping.[ATTACH=full]28029[/ATTACH]</blockquote>

[QUOTE="Deepdiver, post: 1415464, member: 4603"] I had to switch from the Chainlink daily to the 4hour candles chart to see the 200 and 100 (4 Hour Time Intervals) Major Moving Averages. After the Bitstamp Initial Coin Listing pop it dumped to 9.79 on 4 Nov then a proper run up to 16.39 on 23 November. Then a brutal dump to 11.31 on 26 November and basically oscillating the Red 200 Moving Averge in a down Channel with a wicked and suspicious down Red Candle Wick (Wicks are thinly traded pumps and in this case severe Dump) to 8.14 on 23 December back up to Close at 11.81 on 1 Jan 21. So it makes a Sine wave Above and Below the Red 200 4 Hour Moving Average current bouncing between the 9 Green, Blue 20, Yellow 50 Clustered Moving Averages and the Purple 100 Moving Average. Looks like it is another Alt Coin that has suffered a down Trend as people pulling value out of Alts to Ride the Bitcoin Wave 3 Parabolic Impulse move up. Considering Chainlink is a darling of many DeFi projects as an Oracle to Legacy Data - it is exhibiting an alarming amount of Pump and Dump behavior. Chainlink is still in a strong down channel and I would expect more Dump Candle Wicks before the Trend Channel changes upward which would mean some consistent closes above the Upper Trend Channel line. If you really like the project there are likely to be better entry points back around the 9-20-50 MA cluster or lower. It is way too erratic to day trade and do not use leverage as there are clear signs of Whales pumping and dumping. [ATTACH type="full" alt="1609544758665.png"]28029[/ATTACH] [/QUOTE]

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