A popular crypto trader said decentralized oracle network Chainlink (LINK) is giving off short-term bullish signals.
Ali Martinez To tell His 59,300 followers on social media platform “This suggests a potential upside,” he said.
Traders use the TD Sequential Indicator to predict potential trend reversals in a token based on the closing prices of the past 13 bars or candlesticks.
At the time of writing, LINK is trading at $13.81. The 18th largest cryptocurrency by market capitalization has risen more than 4.5% in the past 24 hours, but has fallen nearly 21% over the past week.
Martinez also updated his outlook on Bitcoin (BTC), suggesting the top crypto asset still has room to rise in the current bull market.
“Each Bitcoin bull cycle goes through a euphoric phase that marks a market high. BTC has yet to experience such euphoria in the current cycle!”
Martinez also pointed out that when the top crypto asset fell below $63,000 this week, more than 27,700 BTC, worth about $1.72 billion, flowed into accumulation addresses.
At the time of writing, Bitcoin is trading at $63,262, up more than 3% in the past 24 hours. It remains down nearly 10% over the past seven days.
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