Bitcoin (BTC) Considered Watchworthy by Crypto Analyst; In-depth Analysis of Chainlink (LINK) Ensues

    A crypto analyst is closely monitoring the movements of Bitcoin (BTC) and Chainlink (LINK).

    The analyst, Rekt Capital, informs his followers on X that BTC’s current price is acting as a “point of reflection” for the largest cryptocurrency.


    Acting as a point of rejection for the moment

    Worth watching.”

    Source: Rekt Capital/X

    At the time of writing, BTC is valued at $26,899, down 0.5% in the last 24 hours.

    In the trader’s Altcoin Newsletter, Rekt Capital shares a “short story” about Chainlink’s recent price movements, resulting in a +44% increase since mid-August.

    “Here is a short story on Chainlink:”

    Source: Rekt Capital

    “LINK then followed the red path…”

    Source: Rekt Capital

    “Then rebounded strongly from the Range Low, before embarking on a path to revisit the Range High resistance…”

    Source: Rekt Capital

    The analyst notes that although LINK has yet to break out of its overall downtrend, its price is currently in a favorable position to close the week above the trendline.

    A successful retest of the downtrend could result in upward movement for LINK.

    “A successful retest of the Downtrend would probably set price up for another revisit of the Macro Range High.

    But it would only be upon Weekly Close and a successful retest of the Range High resistance as support that LINK would be able to confirm a breakout from its Macro Range.”

    Source: Rekt Capital

    Currently, LINK is valued at $7.83, with a 15.6% increase in the past week.

    Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
    Check Price Action
    Follow us on Twitter, Facebook and Telegram
    Surf The Daily Hodl Mix

    Check Latest News Headlines


    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Featured Image: Shutterstock/NextMarsMedia

    Stay in the Loop

    Get the daily email from CryptoNews that makes reading the news actually enjoyable. Join our mailing list to stay in the loop to stay informed, for free.

    Latest stories

    You might also like...

    Bitcoin (BTC) $ 43,784.73 1.07%
    Ethereum (ETH) $ 2,349.12 0.80%
    Tether (USDT) $ 1.00 0.08%
    BNB (BNB) $ 238.99 0.93%
    XRP (XRP) $ 0.66619 1.48%
    Solana (SOL) $ 73.29 1.40%
    USDC (USDC) $ 1.00 0.05%
    Lido Staked Ether (STETH) $ 2,348.23 0.73%
    Cardano (ADA) $ 0.602901 6.75%
    Dogecoin (DOGE) $ 0.099856 2.74%