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foreign to another update video about chain link chain link also reacted with quite a bit of selling pressure today however it never broke below that 50 retracement that 50 FIB retracement is quite important um as long as it holds above that theoretically we could focus here still on higher but it would have to be an ending diagonal in this c-wave going below that I think um yeah will lead to further selling pressure and then it has one more chance to hold here the 585 level if it doesnt hold that we are probably in the C wave to the downside already here at the moment I can say we could still possibly get one more High here um if Bitcoin ethereum recovers well chain link might do so as well and the signal for that would be a move above 6.99 then we could have here one last wave maybe in the C wave to the upside and then we could finish off the B wave but if we now break below 631 well probably have to assume that the B wave high is already in we are coming down and then the next key support and test will be at 585 if we lose that level as well then I think we have good confirmation that we finally in the C wave down that could take us sort of into the four dollar range finally finally lets see were still quite quite far away from that level there will be some further support in this area but again as we drop below the 78.6 retrace that would also cut below the wave a high that would be a strong signal that we are heading yeah heading further down here um as you probably know my view is still that we are going down lower that would be an ideal outcome because I just I mean there are always possibilities how you can label this in a bullish way I would have to find a way that the um bear Market in in case we get the breakout you know in case we get the breakout I would have to find a way to label this as a truncation at the bear Market was over at this swing low here which was higher by the way than the low from June that works if the price action afterwards is very bullish but I did say to you I dont trust this chart until we break above 950 at least so until then um my focus will be pretty much on the downside because of the greater context so it has to do a lot to convince me that this is back in a bull run um or it goes down now and makes a new low finally then we can also start to build it a little bit earlier and get confidence back because if it breaks out from here I I seriously want to see a decisive move above 950 to be very I would say to be bullish at least on it yeah also in the short term and again as long as we hold 6 30 at the moment we can focus still on higher and below that we still have the 585 level but below that I think its going to go down and and fail and we will be in that impulse here in a c wave to the downside not much more to add hope you like the update about chain link if you did please hit the like button leave a comment and subscribe and if you really like the content then please check out the channel membership thanks a lot for watching bye thank you Trade on Bybit:Receive an up to $30,000 bonus see terms on Bybit Chainlink LINK Price News Today - Technical Analysis Update! Cryptocurrency! In this video I talk about a technical analysis of the LINK Chainlink price and I talk about some important price moves that are happening right now! Chainlink Price Prediction of this Cardano ADA partner! ----------------------------------------------------------------------------------------- Links: Bitget: Sign up for Bitget via my link: to get a $15 bonusFor the first 100, first come first served and to get free access to my foundations trading course reach out to when done. To get free access to the trading course you need to deposit $500 to Bitget and make a trade. Technical Analysis with TradingView: Set up trading bots with Trade on Coinbase: Receive $10 in BTC see terms on website: Trade on Binance: Receive a 15% fee discount lifetime when using this link. 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