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

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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 not too long ago offered a purchase sign for LINK on the day by day chart, which he says suggests “a possible 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.

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% prior to now 24 hours however down practically 21% prior to now 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.

“Every Bitcoin bull cycle goes by a euphoric part, signaling a market high. BTC has but to see that euphoria within the present cycle!”

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

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

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