Foreign Link a chain link unchanged here on the Route to lower prices yeah Um with chain link which has actually Now broken here a few days ago the wave D low of the triangle that was for me The confirmation that we have broken the Triangle that we've been following for Months and months um actually to the Downside as forecasted yeah it was Really really close up here Um it would have nearly invalidated this Elite wave triangle but it didn't yeah That wave e is a little bit lower than The Silo and the C high so yeah it's all Working out we talked about Um a link pushing a little bit higher Into resistance in the end due to the Volatility here around the 8th and the 9th of November it pushed a little bit Higher but then failed eventually to Break substantially above resistance Above this short trade area and then Came down crashing Um I know it seemed like a totally Unrealistic Target of 290 to 350 the Even the other Target I talked about Between 455 dollars seemed super Unrealistic Um until sort of last week but then what Happened this week was absolutely crazy Um But in the end it came down as Forecasted there was no bullish scenario
Here on the link chart anyway Um this structure is not great yeah it Would be a very very untrustworthy Structure should we break out directly From here and now I would really like to See link make a new lower low s Forecasted a low below the low of the Wave B which is below 5.30 below that Level I would consider my ta scenario as Fulfilled because any low below the Third wave basically below 5.30 would Fulfill this scenario ideally We are Following this wide wave count that we Said we saw wave one here this was a Wave 2 retracement which failed at the 50-day simple moving average We're now coming down we basically Failed at resistance again which is not A strong sign and Um it is one of the most let's say Bearish drops here that I currently see If I compare that with Ada Ada looks Much more correct if they move down this Here currently looks quite strong Um and really Really really if we look at this Properly and use the Fibonacci Retracement levels it really needs to Turn around now because it already Touched at 78.6 retracement any drop Below that 6.20 level Um would just increase the likelihood of Dropping further and that would be in Line with my primary expectation here in
Primary scenario Um further short-term upside would be Possible if the market makes it above 7.49 above that high but even then I Wouldn't consider this bullish I would Probably just look at a reset of Wave 2 To higher okay because the Wave 2 was Quite shallow generally And really there is nothing bullish on This chart until we drop until you break Above 9.63 even then that wouldn't be Really bullish but it would at least Unlock prices all the way up to 11.50 And only above 1150 the daily chart Trend turns bullish until then I'm going To focus on the downside and this is Something to well we're at the moment at Least I don't see a reason to be long Okay and this is my update about link 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