ChainLink-Google Deal Is An Approval, A Link Mega Rally in Waiting?

Link prices surge, up 38.4 percent
The involvement of Google may cement ChainLink’s position

Bitcoin Price (BTC) At Clear Risk of Further Declines
Tuesday September 17, 2019

Bitcoin price failed to hold the key $10,300 and $10,250 support levels against the US Dollar. The price is currently trading with a bearish bias and recently tested the $10,000 support area. There is...

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Google’s interest is enough to propel Link’s prices to new highs. Consequently, ChainLink may end up dominating the Oracle market. Thanks to yesterday’s announcement, Link is up 38.4 percent. However, this appears to be the early stages of a possible mega rally.
ChainLink (Link) Price Analysis
Fundamentals
Mystic as they sound, Oracles will revolutionize cryptocurrency and blockchain. The critical role of these connectors cannot be understated. While listing down potential game changers in the Ethereum blockchain, he confidently mentioned the Prediction markets.
Heavily reliant on smart contracts, the prediction markets, a burgeoning industry, will be limited if there are no trusted oracles. These bridges, in blockchain terms, process and translate outside information and link them with fragmented blockchains.
With ChainLink, their goal is to “provides reliable tamper-proof inputs and outputs for complex smart contracts on any blockchain.” In essence, ChainLink’s role is to feed blockchains “with real-world data, events, and payments.”
Through APIs, smart contracts, which, as per definition executes without external intervention, will be up-to-date because of ChainLink’s oracles.  Therefore, Google Cloud is sensing an opportunity. After experimenting and linking ChainLink with BigQuery, Allen Day, a senior developer advocate, through a blog post, concludes, saying:
“We’ve demonstrated how to use ChainLink services to provide data from the BigQuery crypto public datasets on-chain. This technique can be used to reduce inefficiencies (submarine sends use case) and in some cases add entirely new capabilities (hedging use case) to Ethereum smart contracts, enabling new on-chain business models to emerge (prediction markets use case).”
Candlestick Arrangement

Crypto Analyst: Brutal Wyckoff Distribution Expected As Bitcoin Cools Offs
Wednesday September 18, 2019

Throughout much of the bear market, one of the themes that kept crypto investor’s hope alive in crypto investors was the thought that Bitcoin was being accumulated, according to Wyckoff theory, at low prices...

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It couldn’t get better for Link bulls. Bottoming up and syncing with Ethereum (ETH) price action, Link is up 38.4 percent from last week’s close. However, in light with fundamental factors-complementing technical candlestick arrangements-Link can quickly expand.
Notice that Link is trading within a bullish breakout pattern. Since the path of least resistance is to the north, the reversal from the 61.8 percent Fibonacci retracement could be the fuel that will drive Link to $3.2. That’s a feasible bull target as per Fibonacci extension rules based on May trade range.
Technical Indicator
Remarkably, the break above May high at $1.5 is with high trading volumes of 1.3 million against 360k. As a result, every dip is another buying opportunity for traders aiming at $2.6 and later $3.2 as aforementioned. Accompanying this revival should be high participation, preferably exceeding averages of 360k or even 1.3 million of June 13th.
Chart courtesy of Trading View. Image Courtesy of Shutterstock
 
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Bitcoin Price (BTC) Rebounding But Can Bulls Overcome $10,500?
Friday September 13, 2019

Bitcoin price remained well supported above the main $10,000 level against the US Dollar. The price is trading nicely above the $10,250 resistance, but it might struggle near $10,500. Yesterday’s highlighted key declining channel...

The post Bitcoin Price (BTC) Rebounding But Can Bulls Overcome $10,500? appeared first on 12bitplay - Bitcoin Play.

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