An adjustable link (10) for watch or jewellery bracelet (100), including a first element (1) and second element (2) assembled by spacing adjustment means (30) according to discrete positions, the first element (1) including a transverse chamber (15) enclosing two jaws (12A; 12B) returned one towards the other by springs (13A; 13B) and including notches (120A; 120B) for immobilising in various longitudinal positions (D) a stop element (5) integral with the second structural element (2), these jaws (12A; 12B) being disengageable by transverse push-buttons (3A; 3B), each including a protrusion or recess (31) continuously engaging with an complementary protrusion or recess (131) of the first structural element (1) for protecting the spacing adjustment means (30) against the insertion of foreign bodies, and for hiding same from the view of the user.