Anialator is correct. There are 4 Timelines breaking off from Ocarina. They are Adult (Future where Ganon is defeated), Child (Link is returned to the past and Ganon is sealed prematurely), Fallen (Link fails). Then of course, there's everything that happened before OoT.

Ocarina and Majora are the same Link. Wind Waker and Phantom Hourglass are the same, and I think Four Swords and Minish Cap are as well.

The popular opinion seems to be that Breath of the Wild Link is the OoT Link from the Fallen timeline. There's a lot of parallels to Wind Waker (which is 100 years after OoT and so is Breath, so they can't coexist) apparent in the trailer, and the Deku Tree (whom looks a lot like the Wind Waker one) seems to remember Link.