Foreign Hello and welcome to another update Video about a chain link Um no change really to my last video we Are coming down here quite strongly Um however nothing has changed yet from My last video so what did I say in the Last video last video Um I said that most likely the move up Was only an a wave and I re I think I Remember that I said Um that it was most likely only in a Three wave pattern so I I considered it Um a flat it's basically a three wave Move up in a wave a would indicate that We are in a flat pattern that is pretty Much what seems to be playing out at the Moment In a flat pattern the B wave is quite Strong so there's no surprise that the B Wave is coming down quite strongly here At the moment and at the moment in this Sub wave structure here of the B wave I Can only count three waves so I Currently assume it is a b wave it Should bottom quite Shortly if it's a b wave and if that if It does that I do expect a c wave rally Into the indicated area here between Seven dollars and 15 and 7.54 maybe even A little bit higher but it shouldn't go Much higher Um But that would be the area I would
Expect the C wave to get into based on Retracement targets for a wave 2. so Just sort of in summary We had in my opinion from this Peak from The where were we the first of December We had five waves down In a in a wave one so an Impulse the Trend is down this year at the moment in My opinion is only A wave 2 to the upside which comes Across as an ABC pattern And we would then follow down further in A wave three to the downside you know There has been uh my Prime expectation For a while it basically gets confirmed By this strong move down why is that Well first of all because it's going Down no but because Um I mean we also talked about you know Even in a bullish scenario I did expect The price to get into this yellow Support region and reverse temporarily At least yeah so we did we fulfilled so Far expectations we came in the bearish Scenario we came into the into the Yellow area which was Target and in the Bullish one as well so we had certain Confluence here Primary expectation is the bearish count So we're looking here obviously as a Wave two at the moment yeah nothing is Ever going to move in a straight line so You get your ups and downs so don't be Surprised by that
Um but the idea is that this could also Be yeah I mean I just showed you the Bearish count which would you know in The on the white you know look at the White count it would head down further In five waves and we might end up at Around three dollars 350 or something to End this bear Market A bullish scenario is also possible from Here only because this move up was in Five waves and because we came here into The support area and reversed out of it We would then have to move in up in a Wave 3 I would only believe this if we In a first instance break above the Yellow resistance area it's 754 755 and Also a break above the recent high at Basically 7.80 then I would believe that We are in a bullish count however I would have to be able To count this as wave one and this as a Wave 2. this is getting extremely Extremely challenged Because we have already come down to the 88.7 FIB level for a wave 2 that is Extremely unlikely so I'm clearly still Leaning towards the bearish count which Makes just much more sense especially if This is an ABC basically um a flat Pattern yeah and my the road map would Suggest that we're going into this area That could be a nice area to short a Link no not telling you too short but Um this is an area if we get into this I
Mean someone could if you would like to You could trade the wave C rally if you See a bullish signal somewhere down here It should really occur very soon we Should rally in a c wave Get into this region here I would expect A reversal from what I can see at the Moment that might change as you know but At the moment I can imagine it would Reverse here and come down quite Strongly in a third wave I'm looking Forward to that to see how that's going To carry on and again the bullish Scenario should be considered as well But I won't put too much emphasis on it As long as we are below 754 and it will Become more likely above 7.80 okay and That's 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 then please check out the Channel membership thanks a lot for Watching bye Thank you