The recent pullback of Bitcoin below the 20W SMA has caused the entire altcoin market to have a substantial pullback. Given that altcoins have a knee-jerk reaction to pullbacks in the price of Bitcoin, it naturally would make us wonder when altcoins could get back on track. In this video we discuss where Chainlink's price currently is with respect to some key milestones. We investigate the valuation of LINK against the USD, Bitcoin, and Ethereum. Historically, LINK has put in new all-time-highs against the USD only when Bitcoin has been above the 20W SMA. This might lead us to the likely conclusion that LINK will not experience a new ATH until the price of Bitcoin is back above the 20W SMA. Obviously this is not set in stone, but is just based on historical price movements. TA Video by Benjamin Cowen.
