Buy Chainlink on Coinbase: When?

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Hello, everyone, it’s Petko Aleksandrov, and I continue on the 23 of August 2020 after I had another Counter Trendline breaking. And I will show you where that is and when do I buy Chainlink on Coinbase.

So this was my last entry where I have bought Chainlink on Coinbase.

This was the aggressive Counter Trendline, a failure of the recent low I have entered here, bought 600 EUR of Chainlink, as I’ve said because I’m increasing the entry since the account is bigger now.

So what happened then?

The price went a little bit upward, sideways, and then went lower, reaching 11 370, and then it went a little bit higher.

And then I had the chance to draw Counter Trendline after this high was formed, and now it is breaking this Counter Trendline.

Now, initially, the Counter Trendline was here, but at that moment, I didn’t have a failure of the recent low. So I didn’t enter anywhere here. It was exactly like that.

And you see, I had the break, but no failure of the low. So after that, I have moved it. And today I had this failure that I want to see and to break –
It was quite an impulsive break.

But you can see what happened with this candle. It pulled back didn’t close above the Counter Trendline, which is a thing I want to see.

But still, it’s going upwards. We’ll see where it goes.

But I have bought another piece of Chainlink. The Chainlink is a little bit cheaper since I bought it the other day.

And if I go weekly, you will see what I have on the Chainlink. I have this drop, and the price recovered a little bit on a monthly chart.

If it breaks this top, then I will have a gain the smaller uptrend. So it’s like another failure of this low that we see here.

And this is where I bought it for the first time. So it’s at a cheaper price, which gives me a better average price.

However, as I’ve mentioned a few times during the course, I don’t really do analysis on Coinbase chart or on any of the Cryptos that I buy, I do the analysis on the Bitcoin, and I just look at the monthly chart or weekly to see series of higher highs and higher lows.

So usually, I prefer to buy Cryptocurrencies that are in an uptrend on the monthly chart on Coinbase.

And for the moment, if I go quickly through the others, for example, Tezos is not really in an uptrend. It’s actually going down. It’s a series of lower highs and lower lows.

And if I go to Stellar, for example, and I go to the monthly, you will see again a series of lower highs and lower lows.

So the market is a bit negative at the moment, but Chainlink is the one that is just sideways. We can’t say really, is it in a downtrend, is in an uptrend.

This was an uptrend, and then this was a decline, and then we’ll see what happens now. If the price reaches this top, it will form a small uptrend.

If it reaches this low and makes a lower low right here, it will be a downtrend. So we’ll see. But I stick to the strategy.

Whenever I have a break from the Counter Trendline, I am entering the market, which I have at the current moment.

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