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hi and welcome back to cheeky crypto today guys were going to be diving down into the charts to take a look at what has been going on most recently with chain link as we get into this video if you find it useful and informative hit the like button i really do appreciate that if you happen to be new to the channel then go ahead and subscribe tap the bell select all notifications and in doing so you are going to be kept up to date with everything that we do here at cheeky crypto right with all of that said done and out of the way lets jump on down into the desktop and see whats going on here with link okay guys were going to start with the hourly chart and we want to focus in on these kind of micro movements to see what theyre building up to on the larger time frames and so obviously i have been heavily accumulating link i think um the volatility that you find here with chain link is absolutely fantastic um if you buy it and sell it at the right timings and so here we can obviously see that we were tracking trying to come down a little bit lower here but we actually found a double bottom um and pretty much further in the rest of the market if i actually just grab ourself a horizontal ray and throw that on there you can see right here we had this double bottom and then we started this absolute launch to the upside which was fantastic here for chain link now and that actually low point there was about 15.21 i think or 15.20 at 15.20 was the low and i was actually hoping to try to get this below 15 but it doesnt seem to be a scenario that wants to play out right now so maybe itll come in the future but for now it looks like were actually on a good push to the upside now obviously here we can see this quite really impulsive move up right and um theres lots of different ways we can count this and looking at the stochastic rsi im inclined to actually say this entire move here is an a wave and but it has got a lot of waves in between here so you could of course count this maybe as a one two three four and five and again we can just check some of these and by sense checking them uh just to see whether or not we reach those minimum thresholds we do so you know you could of course just go you know one two all the way up here for three down here for four and then up there for five thats quite a valid wave count and it allows us to kind of know whats going on obviously we have the definitive move down here the abc or ultimately if you want to you can look at it as a fifth wave down if you want as well and again thats tracking all the way from up here um but ultimately i think we weve got this nice move up and weve seen a nice correction down and again here what you end up with is the a the b and the c move theres nothing overly special about those um i can of course just measure them for good for good kind of measure and uh see what that looks like uh you come down to the one to one ratio a little overwicking it here and but not going anywhere near the 1.382 or the 1.618 so we know thats pretty standard nothing too much to worry about there and of course this means that we are more than likely going to start a new push to the upside the stochastic rsi on the hourly chart would support such a move and so we could be looking at you know an interest in play here now the only thing i want to kind of just articulate and kind of just warn people on there is this little abc here and this is enough to potentially take those larger time frames or allow those larger time frames and to take this down further okay so we are mindful we want to just kind of watch how this plays out over the next little bit and this could be you know an entire move in itself and well have a look at those larger time frames in a moment to see exactly how theyre going about and whether or not we should be you know concerned about any potential downside or whether or not were just going to continue to ride um this one up to the upside right so pretty good move so far with chain link um you know yeah its a shame that we couldnt get it down a little bit lower but um i was stacking up anywhere below 17 in my opinion was a pretty good deal and what i mean by that is uh obviously if we go into uh our daily i think it is um we can see some of the volatility here with chain link um you know down 63 percent down 50 down 43 down 35 down 74 and down 60 and down 53. and but in between all of that you have these massive spikes to the upside right from that low point to that high point from that low point to that high point for example um you know 172 up or 86 percent up and so the volatility is right there we can see the volatility um in the data and but its that volatility that gives us the uh opportune um or opportunity i guess uh you know for a maximum kind of exposure to gains right because you can kind of rinse and repeat um so looking pretty good so far for chain they can obviously when they introduce staking i was doing a little bit of reading on that and thats going to add another dynamic to the mix here um for for chain link so thats looking pretty good now when we come up into our four hourly chart and we get a very similar story with the exception of that stochastic rsi needing a pullback right so here we can see that this might actually just be an entire a wave and we push up a little bit and then we fall back down a little bit lower so we are cautious here and that that stochastic rsi is high and obviously it needs to be low if we want to see price appreciation and it doesnt have to be necessarily below for a long period of time um but one thing that we see here thats common across across the field is that when the stochastic rsi is high um we have some kind of pullback that sees us push down into the oversold area i mean again you can be in either of these areas overboard or oversold for quite some time and whilst youre having that volatility obviously the stochastic rsi super sensitive to price movements so couple this with a regular rsi and youre going to be able to identify what the trend is on the rsi and youll be able to find your entry points and your exit points based on your stochastic rsi okay so very very good indicators if youre not currently using them i do recommend you do some research on them and you use them and so obviously were aware that theres going to be some kind of effect here thats going to wipe out that stochastic rsi whether thats a huge price pullback or whether or not its just loss of momentum okay so well just watch out for that um on our a to actually on that note before i get into that here we can see that theres an increase on the volume whilst selling okay so thats basically protecting the rsi from going down too fast and what you want to see is you want to see uh the price pull back and the volume decrease and thatll wipe that stochastic rsi out quicker and so yeah just watch out for that thats obviously an increase weve pushed up and the volumes decrease thats going to basically mean that this is going to be potentially quite a painful pullback here which means we might go a little bit lower um after this impulsive move up and again you know if we were to uh look at this from a retracement point of view on the fibs and weve barely even really broken down anywhere yet so a 618 is a little bit lower about 16 and so some volatility is potentially on the cards here lets not jump into anything too much until that plays out um so well get rid of the volume there and jump up into our eight hourly here again same story right were overbought and so again were going to need to see some form of correction of action here um to see that wipe out well take a look at the volume um small volume actually did increase but it was a slight decrease on the volume that was taking us up higher so and well take that as a bit of a win and the volume is significantly lower than what we saw previously over here um chain link has already pulled back quite significantly so like i said i did want to see it a little bit lower but it was a higher risk and but i still think there is a possibility of jumping back down into this range and if i actually take a look at this on a hourly chart here you can actually see whats going on right and we have uh this entire play uh right here so this becomes our a wave down um and then we have our b wave up and then potentially a c wave down lower and again that would take us into these lower ranges that ive been talking about and as we come up into our daily chart and we just remove that volume again because its doing exactly the same thing and we can also see you know a good push up and a bit of a pullback here and we could also articulate this as an opportunity to say yes theres some volatility here occurring on our smaller time frames but the large time frame actually is looking pretty good right were actually moving that needle to the upside rather than the downside i mean the macro trend tends to win out overall so and dont let the volatility on the smaller time frames get the better of you and because this might actually just be an a b c to the upside potentially turning impulsive and taking us much higher so one to watch out for um its very very choppy here lots of corrective moves um so yeah watch out for that and but for the most part i think the next kind of play here is a small move up uh we can kind of see that playing out right now and then from there i think we are likely to see um some form of uh choppy kind of corrective action as well after we have seen such a significant move to the upside um so guys its gonna be a nice quick short uh you know video on chain link hopefully you have found it useful and informative if you have hit the like button i really do appreciate that if you happen to be new to the channel why not go ahead and subscribe tap the bell select all notifications and in doing so you are going to be kept up to date with everything that we do here at cheeky crypto with all that said done and out of the way i hope everyone has a fantastic day and ill catch you all in the next one [Applause] LOOKING FOR MORE? 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