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all right whats up traders hope you guys are having a fantastic monday a great start to your weekend so thanks for all the feedback on yesterdays video ill link im gonna do a quick update today and show you guys uh you know just a quick update on link btc and link use dt all right lets go all right so im going to start off by taking a look at link btc here and ive what ive talked about in yesterdays video was basically this red box resistance right here we talked about how uh in a strong move to the upside a strong bullish momentum move you will usually get a you will usually get a a um a bounce between the 50 and the 0.382 fibonacci retracement level which is this this area right here between around whatever these sets are but its uh 116 000 sets between 160 000 sets and a hundred thirty thousand sets something like that so what i usually look for is a full retrace of a move down to the rlc and i will see is the area between the 786 and the 618 fibonacci retracement level if you add the fibonaccis the rlc to chart here you will see what im talking about right and this is the rlc and the rlc lines up perfectly with the breakout area which is the 100k area so the 100k areas is a perfect level for a potential bombs right if you change back the fibs here you will see that you have the 50 and the 382 level here with price actually bouncing inside it right so this is a good indication of a possible continuation to the upside right and uh if we reclaim this red box resistance here being confident with the three six uh two two three six sorry the two three six fibonacci level if we reclaim this area with a four hour open and close above i think were going to get a move to the upside right so uh what i would be looking for is for a breakout and a rounded read test of this level id love to get an entry here and my stop would be depending on like depending on your risk appetite or whatever i would recommend having your stop loss below this swing low depending on how price action looks when the actual break out happens or below this low right here and i like the fact that were getting a pretty clear risk to reward a clear pretty clearly defined risk area here and you can even take your first your first take profit could be at the highest right here and with the stop loss below these lows the first take profit area is going to be at 1 145 r which is all right for a first day profit im probably going to take like 25 off here and let the rest run and were looking at something thats in your you know in a all-time high area you could use the fib extensions as a you know profit taking mechanism here and in that case i would look at the the one 195k 195k and um around uh 210 10k and 230k for a um you know were talking about a 60 move here so thats what im looking at for a link remember its important to take the profit at the highest right here the first take profit area and you might also get a you know because this level is such an important area you might actually get a pump right into this high right here but i do anticipate it retrace down to this area and thats where you want to enter right first take profit here second you know third and fourth take profit for a pretty decent trade right that would mean youre getting in on if you take 25 on each youre probably gonna end up with a you know with a nice four r trade on link btc lets take a look at link use dt so the shot right here is looking quite uh similar right problem and ive explained this in the video from yesterday too the problem with the usd t-shirt in comparison to the link btc chart is the fact that lets pull them up here so in the bottom we have link link btc on the four hour and above we have link usdt on the four hour now im gonna show you what im talking about here lets just remove these so were going to mark out the fibs on this move right here its using this slow to this high well actually that lines up quite nicely honestly yeah all right yeah so what i was talking about was this level right here youre seeing a support area down around the 618 on link btc but the strong support area for link use dt is really all the way down here around nine dollars right so thats a bit problematic because the the shards are looking very similar and the link btc charts short have to retrace 20 to hit the uh proper support where we want to see a bounce inside the rlc but link usdt needs to retrace double that amount and im not sure if those are going to align im not sure were going to get a 40 retrace on link use dt if were going to get a 20 retrace on bitcoin because the shard looks so similar right so im thinking we might see a move for link btc if were going to see a re retrace on link right remember that the upside i mean the trend is still to the upside the local trend is down sure but the overall trend is still to the upside so in my opinion right now with the crypt market as bullish as it is i think continuation to the upside is more likely for link and in that case were going to look for a reclaim of 17 for link use dt and a reclaim of around 1 145 k on link btc for a retracement target i think it makes sense for link usdt to come down and test the 10 to 12 dollar area not the nine dollar area honestly because i think if the link btc comes down and tests the rlc down here i think thats quite likely going to be equal to a retest of the 12 to 10 dollar area for link use dtt so if youre looking for a trade here on link i think it makes very much sense to look at both these charts are they going to align with each other and if for some reason link btc retraces down to the roc and stays here while link continues to retrace four percent and range here well thats going to be obviously a very good setup and i you should definitely buy the retest down here if link b2c can hold this area while link used but i dont think thats going to happen thats probably not going to happen what i would like to see is a bounce inside the rlc on link b2c and a bounce inside the rlc and link use dt and that would mean that lynx use dt needs to retrace down to area between ten dollars and twelve dollars while btc needs to read a rec retrace back down to 100k area all right guys so thats my outlook for link btc just a quick you know just a quick well i dont think i have to sum it up i think its pretty clear all right thanks for watching everyone see you guys in my next video take care and dont forget to subscribe and like the video if you like my content that would help me immensely and yeah thats it take care guys see you guys see you guys next time In todays video Im giving you guys an update on Chainlink $LINK - Are we going to see continuation to the upside or a deeper retrace down? 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