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Chainlink News: Bullish Trends and Bitcoin’s Influence
In the latest update, CRYPTOWZRD highlights a strong close for Chainlink, suggesting possible further gains. However, the expert notes that Bitcoin’s movements will be decisive in this scenario. A careful watch on the intraday chart reveals that an early pullback could offer a scalp trading opportunity, provided Bitcoin supports the bullish stance.
Strong Daily Candles Indicate Potential Breakout for Chainlink
Through his analysis, the trader points out that Chainlink’s daily candle closure remained bullish, signifying a pivotal moment in its trend. Additionally, the LINKBTC pairing concluded positively, reinforcing a short-term bullish outlook for Chainlink. Despite this, sustained bullish daily closes on LINKBTC are necessary to confirm momentum.
A surge in strength might trigger a dynamic breakout above the daily candle’s lower high trendline, potentially setting off the next upward phase. A decisive breach above the 0.000140 BTC resistance could quicken Chainlink’s price movements, encouraging bulls to drive prices higher.
Key Levels and Market Drivers
Currently, the $12.50 level serves as crucial support on the daily timeframe, providing a buffer against potential downward pressures. Looking forward, Bitcoin and its market dominance are expected to continue guiding Chainlink’s trajectory as we approach the weekend.
CRYPTOWZRD plans to keep a close eye on LINK’s intraday developments for any emerging trading setups. Optimism remains high for further upward movements, especially if Bitcoin maintains its current strength.
Awaiting Chainlink’s Next Trade Setup
Despite positive indicators, CRYPTOWZRD acknowledges that a temporary bearish pullback would be both natural and beneficial, resetting market conditions for a more robust continuation pattern. Such a retracement could offer an attractive entry point for long positions, particularly appealing to short-term or intraday traders eager to leverage market volatility.
As the market evolves, CRYPTOWZRD advises traders to await clear confirmation of the next trade setup before engaging. Strategic patience will be crucial in pinpointing the most lucrative opportunities. Traders are encouraged to monitor price actions closely and be ready to act promptly once a valid entry signal emerges.
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