Few coins in the crypto world have performed anywhere near as well as Chainlink – Bitcoin included. After nearly three steady years of overperformance against the most dominant cryptocurrency, LINKBTC could have also topped alongside the USD pair.
One top crypto trader with a track record of successful calls has shared a new chart outlining the path Chainlink could take before ultimately buckling against Bitcoin.
Crypto Trader Expects Chainlink To Collapse Against Bitcoin, Following Descending Triangle Pattern
What goes up must come down, as the saying goes. Chainlink’s historic run both against the dollar and Bitcoin is one for the crypto record books, as short as they may be. But it could have culminated over the hot summer months when LINKUSD hit $20, and LINKBTC topped out over 166,000 sats.
Since then, the LINKBTC trading pair fell over 50% from local highs to support. But each time support has been tested, it has resulted in an over 20% bounce.