The analysis focuses on the Chainlink (LINK) chart, noting a pullback in the market. The analyst views the current movement as potentially part of a wave 5 decline. From the B-wave swing high, the move down looks unfinished. The analyst focuses on a smaller timeframe and provides an intraday update around the daily candle close. The analyst notes a B-wave that might have topped around August 22nd. A bullish scenario could involve a high B-wave of a wave 2 correction. The C-wave should have five waves. The analyst indicates there is a orange scenario, and now the analyst indicates that it depends on bulls driving the price above resistance at $24.66, indicating that a standard ABC structure consists of a five-wave move downwards in wave C. The analyst is tracking wave 1, wave 2, wave 3, wave 4, and wave 5, which could lead to one more low. The market has bounced from the support level around $23. A decisive break below $22.30 would open the door to a larger correction into the lower support region around $19.