Chainlink LINK Price News Today – Price Forecast! Technical Analysis Update and Price Now!

Chainlink LINK Price News Today - Price Forecast! Technical Analysis Update and Price Now!

Foreign Welcome to another update video about Train link this is going to be a little Bit of a longer video not not too long But we're going to focus on the Long-term outlook for link as well for Channel members a while ago I started a Separate channel on Discord Um covering where I post the videos in Which I talk about the long-term targets So that when channel members can go back To sort of you know what is my view long Term about a certain coin I tend to do These videos and then um Do them over time when there is not so Much going on in the market because you Know I can talk so much about you know It's going to go down it's going to go Down it's going to go down it can go Sideways for weeks you know and Um in these moments and times when too Much is going on it is worth looking Into a long-term Target so let's do that First The long-term chart for link Um basically the four day chart here on The chart could use the weekly as well It doesn't really matter my view is that Link created a wave one Into April 21 May 21 peaked here yeah in An impulse and is now coming down in Wave 2. and it should afterwards move up In a third wave come down on the fourth And move up in a fifth so link is really

A coin where One of my or where my long-term viewer Has worked out perfectly because it Still is hovering around the 88.7 Percent flip level so if you if you look At this yeah this is the area that I Defined already I believe it was back in November for chain link to get into for Link and it is here the area between six Roughly I haven't perfectly drawn the Fips now but roughly between six dollars And 11.70 has been the area where Ideally I expected link to get into in This wave too because it is the area Between the 88.7 flip level and the 78.6 Fib level that's the area where in a Large wave two those altcoins in a Significant bear Market often go down Into some coins in fact many especially If it's their first bear Market or so They actually drop below the 88.7 Percent flip level now that's not a Problem if it doesn't take too long but If a coin stays below that level for a While it is not very good for the Sentiment just as an explanation but Yeah we're still hovering in that area At the moment it looks like we will Break the 88.7 trip level to the Downside unless we really break above That sort of 11 50 1170 range of the 78.6 percent flip level then we can look At something more bullish yeah but until We get back above the 78.6 FIB level my

Focus remains on the downside side Especially as the short-term price Action doesn't really justify any Bullish counts you can always construct A bullish count into this but the Question is Is it likely or not but what would now Be the target for link long-term Target Or let's say Target for the next All-time high so let's start with the Um move to the all-time high Yeah that was back here as I said in May 21 and it doesn't it's not important to Be super accurate here it's more about Giving a broad Outlook and you know we Have to base it on something so let's Say It would rather be a bit more Conservative if we say okay we might Come down a little bit lower let's say We come to 350 or something in this bear Market Just to give you a target for a third Wave to the upside for the next all-time High then we're talking here about The 90 level between 90 or let's say 91 Dollars and one hundred eleven dollars That would be the target ideally for a Third wave So let me just draw that We're talking about this way three Which would occur in the next Bull Run All-time high yeah Wave 3 we will then Get away four down

And then we will get a fifth wave to the Upside and the width and the fifth wave Would again complete a higher degree Wave one and textbook Target for a fifth Wave is usually the 2.618 extension so Here we talk about here this could take Years to play out maybe end of 2023 Maybe 2024 Um but we're talking about the 2.618 Extension at 144 dollars sounds like a Decent return for me to do that of Course link needs to recover needs to Get back into a bull run but this is Sort of the target where we would want Link to go to Um in in a long-term uptrend right this Is Um what cryptos would do if they survive That's of course the condition right That link does survive because thousands Of coins died don't get me wrong I'm not Suggesting link is gonna die but I also Want to highlight that getting to these Prices is in no way guaranteed that's Why crypto is risky but if it gets to New all-time highs it should do these Prices So let's talk about the lower level wave Count here for link we go back to the One hour chart And with link I've been telling you for A while that we are waiting for one more Low We nearly got there with this low on the

20th of November 21st of November where We came down to 552 Barely shy of breaking the wave below Here from the 13th of June which was Basically here at around 5.20 Um I'm currently still looking at one More like down we had here a large Elite Wave triangle a b c d e in a way four Which then as you would expect it Broke down yeah you always if you get a Wave count a b c d e you would normally Expect the triangle to break to the Opposite side of the E wave It happened Um but we have as I said we've been shy Of breaking below the B wave flow that Is the next step we need to do at the Moment it looks like we created a wave One to the downside then an ABC we're Now in a in a nice Wave 2 which could Stretch out a little bit further to the Upside here in this C wave of two so I've highlighted this here in yellow It's based on the ideal targets for a Wave 2. based on the 38.2 percent FIB Level and the 78.6 percent FIB level I Can shrink that down now a little bit Because we've already reached the 50 FIB Level at 7.70 so far we have reacted to It but Um a wave 2 can without a problem Stretched to the 61.8 percent flip level Which is at 8.12 that would be the next Resistance or even here the 78.6 percent

Flip level you can actually see Again how nicely Um it is reacting to the FIP levels Still get some people sometimes arguing That ta doesn't work but I always reply When you see how these guys react to FIP Levels you just know this stuff works Right of course there's always different Interpretations but As long as coins or charts react to FIB Levels ta works right of course you can Come to different conclusions and Everything we can disagree on things but Look at how accurately it hit the 38.2 Percent flip level just the line in you Know in in the middle of nowhere Basically and it's just reacting to it And it reacted to it it came down to the 23.6 percent flip level and pushed Higher to the 50 now it's reacted again Is it going to be strong enough to push It down possibly not yeah or we're doing At the moment is putting higher highs And higher lows in place so it might Very well push higher and next Resistance would be 8.12 that will be a Very important FIP level the 61.8 and Above that we've got the 8.73 level the 78.6 FIB level so these Are the next key resistance levels here Only really if we get above the 78.6 FIB Level we could consider something more Bullish but it's very hard to construct Count into this and as I said before as

Long as we stay below the air 78.6 Percent flip level here around it's Actually 11.70 Um I'm gonna focus on Lower short term it Would be very important to move above 9.63 the Wave i a high of the triangle But we're far away from that and um Generally the chart would suggest to me That the next wave would be a Wave 3 to The downside that should be quite a Strong sell-off maybe you could short Opportunity yeah Um in a wave three down and then there Will be a wave four up and the way five Down and we're talking about impossible Bearish Target around 2.90 to 350 don't Need to get there necessarily if this is Really an ending diagonal or something We don't necessarily need to reach that Target but C is see it as a Rough Guide Where we could get to and I'll keep you Updated hopefully you like the update About link 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

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