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foreign to another update video about link so link has also shown a good reaction here to our support area we did Count this as possibly complete to the downside highlighted to you that be ready here for some upside because in both scenarios it is likely or it was likely to see some upside for link first of all were coming into this region down here where link is bounced a lot of times now okay so its this region basically starting well yeah where we are now you know around 650 its a large support area that actually goes all the way down to around about 5 30 really large support area and so far its well its been bouncing from that area since May last year so nearly a year in that region and the price couldnt be pushed below it so very stubborn chart yeah link is very stubborn the White Wave count still suggests further downside in my opinion something we need to have on the radar um I would actually still like to see one more loafer link here yeah um but its not guaranteed you know and its nothing I would necessarily bet on but its still a likely chart and if it breaks below 588 it would massively increase the chances of making that new lawyer thats the support area down there that we discussed as well around 588 and the price bounced from that for now so preventing currently that risk of further downside by providing a temporary bounce this bounce though is no problem or no no no surprise because we did put that support area on the chart and I did say to you that the move down looked like a five-way structure so basically technically complete that doesnt mean it must turn around but it means we need to be watching and if we get a reversal signal then you could get some serious upside and we saw that yesterday we had enough waves to the downside complete either in here a one two setup where this is actually the bullish count where the third wave could take us to ten dollars plus so um where we had an A B and C structure and the C wave a five wave move technically complete so you watch for a possible bounce in a third wave that could take us to ten dollars plus or and that is the other count the bearish count where we have let it okay maybe it is a wave one to the downside five ways down but we should see at least C bounce we should at least see a bounce in a wave two into this price area as long as it stays below 787 um we could expect then here downside yeah so this is going to be the signal level for further upside the 787 level basically the breakout point so far though it has turned around in our support area basically following that expectation of seeing some upside either in the bearish or the bullish count we had some Confluence like that here as well in this support area at the time we also looked at okay possibly the bearish count possibly the bullish one but we would expect some upside either way worked out so weve got a similar situation here so far we saw that initial bounce but price action so far doesnt convince me entirely yet but this is certainly something it can build on yeah um if we look at this structure again the problem I have currently with those structures that we see everywhere if you were really to analyze the micro level that this move up looks corrective now on some charts You Can Count this as a possible wave one a b c basically that were looking at an expanded flat and that is certainly a possibility for a link as well its not great but its possible to count this as a wave one um no Wave 1 then Wave 2 to the downside here and then we had an A overshooting B wave and the C down and that were now working on this third wave here um in my opinion it hasnt well it has pushed enough but Bitcoin ethereum look a bit stronger but either way you could count it like that yeah wave one to the upside the wave two down away three four five but thats what the chart would need to do yeah its not that this is definitely gonna happen um this could be a one two three possibly here four but it needs to turn around now because if it drops much lower then this setup will be challenged and not be a very reliable one on the micro level at least um why is that so first of all this third wave Circle three did reach the yeah minimum expectation 660 would have been the minimum expectation for a wave three so thats fine but now we need to be watching it should at least ideally not drop below the 50 retracement now it came down to the 50 level and is about to break it thats 642 ideally its holding that and turning around to the upset from here I think it tried failed so we need to be watching that level below 650 this could break down and we only have end up with three waves up thats why Im just highlighting every video at the moment we dont have a five wave move to the upside yet so cannot really confirm that the trend shift has occurred but um you are certainly on the lower time frame seeing here a possible higher high higher low series now again thats why we need at least one more High here to get um at least here higher high well a high and a higher high and you have a higher low and you want another higher low to confirm a trend change has occurred and um thats basically what were waiting for and ideally it avoids any further price drops because it would just sort of make it a little bit less reliable on the lower time frame but either way um even in a wave 2 yeah you would expect at least corrective upside and if Im telling you you know this looks corrective at least at the moment because we dont have five waves up yet and its about its really on a thin line because its about to break the um its about to break that support area the 50 retracement so its on a thin line but even if its corrective and its going to move up in a three-way structure it could just be part of that wave too so um either also in a wave 2 scenario it should eventually sort of get into this region because at the moment to understand this as a wave 2 it would be very shallow technically possible again yeah but nothing I would really want to want to trade so um yeah lets see if the Turning Point work would work out or will work out Bitcoin probably needs to push a little bit higher for that ethereum needs to well see what the daily uh whats todays trading day will bring but the trend now has realistic chance here to really turn to the upside um from here okay thats my update about link I hope you like the update 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 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 3commas.io: 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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