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Technical Analysis Update and Price Now! chainlink 5 year chartChainlink LINK Price News Today - Price Forecast!


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foreign welcome to another update video about Link train link were here on the one hour chart prices come from coinbase link continues to make lower lows and lower highs yeah you can see that lower high lower high lower high slightly lower high lower high at the moment even though thats not complete that move but also we may constantly hear lower lows as well so you know for me again the trend remains down on multiple time frames even here on the hourly chart um I think we are currently in this third wave there are several ways of how this can actually be um be labeled um Im actually thinking about if Im seeing this wave 5 as an ending diagonal so that would explain the choppy nature of this Decline and then I would have to count each of these waves I would then have to um probably move the wave one here and then we would have an ABC up here um I would have to yeah I can count the wave one as it is a b c two up and then here also a b and were now only starting the C wave down maybe so I need a bit more data to confirm they dont just want to change the count here it would explain why this is a bit choppy here um the move down here I you know the way I counted this I dont really like this move um it doesnt it doesnt fit in really and thats why Im considering an ending diagonal where I would count the sub waves as ABCs um where I would then however well yeah well oh no I just made a mistake see and thats not its not easy with these um diagonals because you need to think a lot um yeah um but ABC so this would be the wave one here then where the C wave was again an ending diagonal so its just a mess then the wave two up and then the wave three yeah this wave three would actually need to be counted in ABC so the way I have the wave one that would probably be the a wave B and then the C wave down and then this would probably be a one a two shallow two would come down in three there would be a four and a five so yeah I need I need a bit more a bit more time to really look into this its not entirely clear to me yet what is quite clear to me however is that this move is clearly on the still going to the downside the bullish scenario that we had on the chart which was only the alternative anyway um and Ive seen a few analysts promoting that uh it was only the uh the alternative uh has been invalidated anyway with a wave um with five waves up and uh three waves down yeah but it came down to low and I told you already its getting unlikely and then we made that lower were just invalidated so yeah of course you know this important important now is that this has made a new low so its invalidated any possible one two setup I mean theoretically as long as you as long as we stayed above 550 55 um without breaking it and we did break it even though very briefly but then invalidated a 12 setup so until then this would have theoretically been possible as a one two setup in the move up but this has now been validated so at the very best this would now start from scratch and put five waves up in and three waves down and we can look at it again but at the moment the trend is clearly down um and the target range it should eventually reach still sort of the the 3.290 to 350 region so thats where what Im looking at at the moment um and if we zoom out a little bit lets go to the full hour chart we can see here there will be the next support level is clearly the the low from June so thats sort of what Im targeting next here the 530 level roundabout yeah and after that however there isnt going to be much I think then we can go down fairly fairly quickly so thats the next Target and then when we come down to that level I think were gonna break it so Ive been fairly consistent with this wave count uh for a long time now I think since September Ive had this triangle on this chart and um its as I said back then its one of the most very setups it did hold really well for a very long time and in the meantime any other coins made lower lows and came down lower made new all-time lows actually now chain link is locking on doing that so its holding quite well but its still a bearish setup and um its very difficult to construct anything bullish into this at the moment other than on the long term chart but here on the short term the trend is clearly still down yeah okay and thats my update about the link I hope you liked the update if you did please hit the like button leave a comment and subscribe and if you really like the content please check out the channel membership thanks a lot for watching bye thank you 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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