Hello everyone I'm Alfie, 23 years old and I rolled into the crypto game about 6 months ago. This is my first analysis on this platform so feel free to give comments and feedback! Compared to the ideas I've read so far on this platform I think the approach I took is pretty unusual. It's a purely mathemetical comparison between the actual the LINK chart and and of the first phases where COINBASE:ETHUSD started pumping before the 2017 bull run. Hope you enjoy!
GO TO MY SECOND IDEA ON MY PROFILE TO SEE THE ETH/USD CHART, I CANNOT PUT LINKS IN THE DESCRIPTION BECAUSE I'M NOT A PRO MEMBER.
ETH/USD chart around May-July 2017
Looking at the chart from COINBASE:ETHUSD showing one of the first big pumps before the 2017 bull run. In this phase the asset went from 87$ and went to 331$ in 24D. This is a 378% increase in 24D. At around june 13 it reached its peak and dropped 69% in value over a timespan of 33D. At the bottom peak july 17 there was a 75% positive difference between the bottom peak price and the starting price of the phase at may 16.
When we look at the COINBASE:LINKUSD chart at this time we notice a 300% increase around july and august within a period of 40D. Compare this to ETH's 378% increase in ONLY 24D. Since reaching the peak high COINBASE:LINKUSD dropped about 45% in value until now (31D), compare this to ETH that dropped 69% in 33D. It makes sense that we didn't drop that hard compared to COINBASE:ETHUSD because LINK climbed 78% lower, but more important, in a 40D timespan compared to ETH's 24D. Since COINBASE:LINKUSD rose 78% less than COINBASE:ETHUSD with 16D more time it would make sense to me to see a more gradual drop over a larger timespan with COINBASE:LINKUSD of about 40-45days in total until the end of september, start of october with a bottom peak that's 6% higher than COINBASE:ETHUSD's bottom peak of 69% compared to the starting point of the phase. (LINK had more time to climb less higher than ETH so it will drop more gradually). Looking at this in a parabolic form it makes sense that the bottom peak of LINK is 6% higher! I see link moving towards the 9$ level over the next 1-2 weeks where we will find a solid and strong support level to move on up from there.