Chainlink (LINK), the decentralized oracle network, is showing a bullish signal, according to a popular crypto trader. Ali Martinez, who has a significant following on the social media platform X, points to the Tom DeMark (TD) Sequential indicator, which recently indicated a buy signal for LINK on the daily chart. This suggests a possible upswing over the next one to four days. The TD Sequential Indicator is commonly used by traders to predict trend reversals by analyzing the closing prices of the previous 13 bars or candles.

At the time of writing, LINK is trading at $13.81. Although it has gained over 4.5% in the past 24 hours, it has seen a decline of nearly 21% in the past week. Martinez also shares his perspective on Bitcoin, stating that the leading cryptocurrency still has room to grow in the current bull market. He explains that every Bitcoin bull cycle goes through a euphoric phase, which indicates a market top. However, BTC has not yet reached that level of euphoria in the current cycle.

Additionally, Martinez highlights the influx of more than 27,700 BTC, equivalent to around $1.72 billion, into accumulation addresses when Bitcoin’s price dropped below $63,000 earlier this week. Despite this, Bitcoin is currently trading at $63,262, registering a gain of over 3% in the past 24 hours. However, it remains down by nearly 10% in the past seven days.

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