$LINK: Chainlink Analysis: Ready for a Skyrocketing Move? | Key Support Levels - video Dailymotion

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00:00Hello and welcome to another update video on LINK. The LINK chart continues to grind higher today as

00:05Bitcoin dominance is dropping and the price continues to follow the preferred interpretation

00:10at the moment which still, well, allows for the interpretation that a low formed in yellow wave B

00:18and also yellow wave 2 and we're now moving up in a third wave rally and eventually the market

00:24should move towards $47. So this is still the case and again market is behaving and as long as the

00:33market is behaving and as long as the market is holding the relevant support levels that we are

00:37tracking on the smaller time frames this would also remain my preferred interpretation. Higher prices

00:43more directly towards $47 plus. No change there and I just wanted to take a moment you know whenever

00:51the markets are moving quickly because we get a lot of new viewers every single day and thanks for

00:56your support. Make sure you subscribe if you don't want to miss future updates for LINK. We cover LINK

01:01nearly daily here but I wanted to take a moment to take a look at that larger time frame because

01:06you know again things are moving quickly right so we just need to be aware what the relevant

01:12parameters are, what the context is and I mentioned it in the last few days yeah in detail you know

01:19$47 doesn't need to be the maximum it's just the 100% Fibonacci extension target of the initial move up

01:27compared to potentially what's starting right now and of course you know this is at the moment only

01:34a mathematical projection but there are further let's say there are targets that are possible that

01:42are even higher than that yeah but this is the ideal target for wave C of B and $47 is just a key

01:49level there to watch. Now on the nano level then there will be support levels that we can track which keep the

01:57direct trend up so we're going to take a look at that as well but for now the overall for now the overall

02:04projection yeah points towards $47 and as long as we're not even there or close we don't even need

02:11to talk about higher targets because even from where we are now that's still a decent reward to risk

02:16ratio. There is resistance just basically in front of us right but LINK has broken above previous resistance

02:25levels in the last few days anyway so the next key resistance yeah is located here around $23.15 that's the

02:37swing high from March 2024 so this is the level that might be tested next the price is approaching this

02:46yeah approaching it quickly and so what we are watching for is can we actually break above this more directly

02:54that is from an Elliott wave point of view normally an ideal breakout level because if we have a first

03:03five wave move up from the June low 2023 into the March 2024 high and then we have a broader correction

03:11then the break above those five waves up is typically an initial breakout signal yeah so that's helpful

03:19but then obviously we have a swing high in December as well that's even a little higher

03:23which formed around $31 so naturally this would be the next um this would be the next objective yeah

03:32so if we're tracking this move to the upside in wave c then we should easily break above those levels

03:40and even if we play out the white count which is even more bullish then hey why not get $200 but

03:48that's a topic for up there okay when we're approaching 40 $50 that's when we can talk about

03:54uh where are we you know how is the micro looking like and then if the micro is looking promising

04:00like micro price action then we might even see higher prices okay my micro price action needs to align so we

04:08need to see extensions for example in the third wave and everything then we can talk about yeah higher

04:13prices but it's just too early to confirm that the blue zone is there for orientation but i cannot

04:20confirm you that we're going to max it out yeah nice to have it'll be a bonus but $47 remains a realistic

04:28target for now we don't even you know we're not even broke we haven't even broken above the March 2024

04:33high so one step at a time one step at a time now let us take a look at the shorter time frame for

04:41link and if you follow the analysis yesterday um because i shared link yesterday and i shared with

04:48you a micro setup so again people ask me every day you know when do we get the next pullbacks well

04:53look there was a support area that i communicated yesterday and the price dipped into it overnight

05:00so there was your setup um it's of course not a one two setup i don't see one two setups yesterday

05:06i don't see one two setups at the moment you know someone we offer on our website some of you might

05:12know that some of you might not we offer a one two setup package right so you guys can basically

05:17book a package and i go out and scan the market and give you five one two setups that could be any

05:23market but someone booked that or a couple of people booked that for crypto and i said i have to

05:28refund you there there is no one two setup i see right now um we can check other markets and

05:34everything in the stock market there are a lot of one two setups also in forex but

05:37crypto those happened right i mean again they they will probably come up again but those were the one

05:46two setups here in june yeah maybe july but now we are in breakout mode so in a breakout mode

05:52it's best to focus more on the like micro support areas yeah what is the support area that keeps the

05:59uptrend intact for example um things like that and what we are dealing with at the moment is

06:05a situation in which we have only shallow pullback so my approach is uh to give you a main support area

06:12which is this one and i will adjust it now which keeps the overall uptrend intact so this main support

06:19area here is measured based on the distance of the currently unfolding third wave to where we are now

06:25yeah it's just the length of that and then the 50 retracement keeps an overall upside impulse intact

06:31but then because these support areas are sometimes so far away especially if we're in the midst of a

06:36third wave it can make sense to also focus on micro support levels which keep the direct uptrend

06:43intact because sometimes in these micro pullbacks um i know that's more work but still i try to give you

06:49additional value here um sometimes these micro pullbacks they don't even uh reach the larger

06:56support area so if you're hoping for a pullback and for a pullback to hold to dip into support

07:02we can consider those micro support areas and this is really just upper micro support and the lower one

07:11and the breaking below that isn't going to be relevant for the broader trend this is going to be the main

07:16main main wave 4 support that's our main impulsive support right main impulse support that's the

07:23support for for an upside impulse so up here i mean it's not even a surprise if we break below upper

07:28support it's just a signal that tells us that a broader wave 4 has likely started okay next upside

07:35resistances 20.64 to 21.85 that's the update on link i hope you like the update if you did please hit the

07:43like button leave a comment and subscribe and if you really like the content then please check out

07:48the channel membership i also invite you to join us on x for additional updates for additional video

07:54updates you can ask questions give your opinion so here we build a community as well it's more

07:59interactive than the youtube comment section for example so check it out if you want to communicate

08:04ask questions and much more i'll leave a link in the comment section thanks so much bye

08:09bye

$LINK: Chainlink Analysis: Ready for a Skyrocketing Move? | Key Support Levels

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