$LINK holds a special place in my trading endeavors.

Despite experiencing a notable rebound, it appears that resistance around $19 is proving to be formidable. While the trajectory of BTC remains a crucial factor, I remain vigilant for a potential reentry opportunity for a new #SHORT position. The current market conditions suggest a stretched valuation without sufficient catalysts to support further upward movement. Therefore, I await confirmation of BTC weakness alongside a clear sell signal in the #LINK market.

I anticipate a potential consolidation phase in this price range. It is imperative to closely monitor indicators such as BTC.D and BTC before considering any entry positions.

My assessment suggests that BEARS may exert downward pressure, potentially driving the price below $17.60. Such a scenario could propel us towards the lower boundary of the flat channel, which resides around $13.50.

#Chainlink

Disclaimer: This stellar analysis comes straight from the insightful Ualifi Araújo ( X - ualifiaraujo ), a beacon of wisdom in the crypto realm. Shared with permission within the Binance community, it's important to remember that this analysis is for educational purposes only. DYOR (Do Your Own Research) and remember, this isn't financial advice—just a thrilling ride in the crypto world! 🚀