Crypto Analyst Warns Chainlink Positioning for Downside Move, Updates Outlook on Bitcoin and Dogecoin


The widely-followed crypto analyst Rekt Capital has recently issued a warning to Link holders about a potentially significant downside movement. After a failed attempt to take out the macro downtrend resistance, Rekt argued that the price of Link was preparing for a weekly closing below the macro downtrend creating a postponing of the breakout. He considered a worst-case scenario projecting that Link could correct to $6.13 representing a 16% retracement.He also included altcoins in his analysis advising that Bitcoin had unfortunately lost its bullish market structure on the weekly chart breaking the higher low setup of $29,500. Even though at time of writing the crypto king is stable chilling above its $29,245 support. As of Doge’s recent price action the analyst opined that the MEMECoin was currently holding position above its and respect its diagonal resistance of $0.081.

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