$LINK_ Chainlink Analysis_ Ready for a Skyrocketing Move_ _ Key Support Levels

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00:00Hello and welcome to another update video on LINK.

00:03Yeah, LINK is finally, finally, finally giving us that pullback

00:07basically from where it needed to.

00:10I mean, the third wave was a bit extended,

00:12but that's completely normal in a third wave.

00:15I think yesterday in the video I already shared with you

00:17that we might be working on a B wave here

00:20and we now start to see that C wave decline.

00:23And this is now the moment of truth.

00:25Yeah, this is now the moment of truth.

00:27This is the next test for the bulls.

00:29Everything here in this uptrend was really just characterized

00:33by really only weak pullbacks.

00:36So for me, it's very simple.

00:38The $16 level is the pivot between bullish and bearish momentum.

00:43It is clearly only a three wave move to the upside.

00:46Any break below $16 will lead to a mess.

00:50Okay, it's quite simple.

00:53So basically the focus for today

00:56and maybe over the next few sessions

00:58is whether the bulls can defend the $16 level.

01:03$16.08.

01:04Now, the 38.2 retracement is already an ideal target normally for a fourth wave,

01:11even though I shouldn't really call it a target.

01:14It's just support.

01:15But most wave 4s would normally reach the 38.2 retracement.

01:19In this case, it's $16.99.

01:21So yeah, we're currently dipping into support.

01:26Market is moving fast.

01:28Again, the market overall was overheated.

01:31But we now need to see if the bulls can defend those support levels.

01:35We are far away from most support levels.

01:38Okay.

01:38Not only on the link chart, but across the sector.

01:41We're far away.

01:41So pullbacks might seem deep, but that's what they are.

01:46You know, for most of these rallies were very extended.

01:49So we really need to see now if we can defend those levels.

01:56Now, could we see even more detail in the microstructures?

02:00Really difficult to see.

02:01I mean, what I can add is the Fibonacci extension zone, which is relevant.

02:07Basically, based on the length of the A wave, we can define a target zone for wave C.

02:13But we're already in that zone, and it looks like we might want to go at least max it out,

02:18maybe even go a bit lower.

02:20So we'll see.

02:21For now, the local trend is down.

02:23Yeah.

02:24But there is still a, yeah, the chance here for reaction.

02:28So we'll see if the bulls can react to these levels.

02:32I won't make the video short because there is really not much more to say.

02:35It's rather important to upload the video quickly as the market is moving very, very rapidly.

02:41Okay.

02:41That's the update on link.

02:43Hope you liked the update.

02:44If you did, please hit the like button, leave a comment and subscribe.

02:47And if you really like the content, then please check out the channel membership.

02:51Also, make sure you join us on X for additional updates.

02:56Yeah.

02:56You'll get more updates here as well throughout the day.

03:02So if you're interested in more rapid updates, check it out.

03:05I'll leave the link in the description and in the comment section.

03:08Thanks so much.

03:09Bye-bye.

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