Chainlink Showing Green Now but BIGGER Prize is in the Long-Term!

Chainlink (LINKUSD) has not only completed its Wave (ii) pullback but has rallied strongly and nearly completed a strong 5-wave impulse since. While the time to buy large chunks of Chainlink is behind us, you may have one last chance to do so on a possible small, near-term 2nd wave pullback. From here onward, DCA (dollar-cost averaging) is the best way to invest because as prices rise, risk rises as well. DCA reduces emotional attachments and reduces the risk of buying peaks.

If we can hold 28.12 support on any pullbacks, our subwave (iii) is targeting 81.26-102.57 for nearly 2.5x return. There is a resistance around 53.44, which may briefly impede our progress. Expect a lengthy 4th wave sideways consolidation that may last over a month after this 3rd wave rally. Once the subwave (iv) concludes, the subwave (v) and our eventual rally top projects between 118.46 and 149.52 for a 3.5x return.

The 0.382 extension at around 124 is a very strong long-term resistance that I don't expect to clear on this current bull run. In fact, I believe that it will coincide with the major long-term top we will see in BTC and ETH after which we may have a painful correction across all the cryptos. This top would be a great time to take profit and reinvest into other asset classes or Stablecoins. I would expect LINK to fall hard but BTC and ETH to fall even harder and much longer as they will be topping in a MAJOR wave 5 off of a nearly decade-long impulse wave.

But there is a great silver lining in what may be a multi-month or even multi-year swoon in the crypto sector. While the original cryptos such as BTC and ETH may underperform, LINK could be entering a strong 3rd wave rally. Assuming that our rally from around 13 to 124 is only a subwave 1 or a much larger 3rd wave, we've got clean targets for 450 and well beyond. In other words, the long, grueling Wave 2 pullback may provide us a GOLDEN opportunity to make a life-altering purchase with outsized returns in subsequent years! If you've missed out on buying LINK or are feeling FOMO, remember to keep you eyes on the prize!

See previous update here:
https://youtu.be/eic0ZV7s2X0

I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels.

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