Oh, countering a blink with jump is viable move.
I approve of the tactic.
When you blink, you're blind. When you come out of it, you have to reorient yourself and reacquire your target. Since you're in the air, that normally involves looking down. If the target is somewhere unexpected, such as above them, the would be target has the drop on them.
I haven't actually seen somebody try to abuse blink like that. Where you wind up isn't an exact science. At best, it's a high risk, high reward play. But I hear it does happen.
It is awfully handy for getting past chokepoints and ambushes, though. Or getting yourself out of trouble. (Getting into it, too. Like I said, you're jumping blind.)
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From my experience, which isn't a whole lot, mind you, you blink forward or upwards. Blindly. Some people have it down to a science, and they're dangerous thus with a shotgun, others like me, kinda just blink everywhere. Again, blindly.