Chainlink Shows Bullish Signs Amidst Market Stagnation

Chainlink’s Bullish Signal

Crypto trader Ali Martinez believes Chainlink (LINK) is giving a short-term bullish signal. The Tom DeMark (TD) Sequential indicator recently showed a buy signal, indicating a potential upward trend over the next few days.

Bitcoin’s Outlook

Martinez also discussed Bitcoin (BTC), suggesting it has room for further growth. He noted that Bitcoin has yet to experience the “euphoric phase” typically seen in bull markets.

Bitcoin Accumulation

Despite recent price drops, Martinez highlighted that over $1.72 billion worth of Bitcoin flowed into accumulation addresses when the price fell below $63,000.

Market Overview

The crypto market is currently in a sideways trend. LINK is up over 4.5% in the past 24 hours but down nearly 21% in the past week. Bitcoin is up over 3% in the past 24 hours but down nearly 10% in the past week.