CHZ/USD :::
It is in a descending channel and the overall trend is moving downwards .
The support has been broken and there is a big price difference until the next support, and this creates a good opportunity for a sell position .
If the next support is also broken, it will continue its path to the bottom of the channel .
<<< Good luck >>>
Chiliz (CHZUSD) is rebounding after hitting the bottom (Lower Lows trend-line) of the Megaphone pattern that started on the August 24 High. That was when the former Cup pattern was completed. Until broken either way, it is advised to do scalp trading within the Megaphone.
A break below it targets the 0.08500 Support, while above it targets the 0.5530 -0.6680...
Chiliz (CHZUSD) has been on a +190% rally ever since the June 19 Low and yesterday it hit its 1W MA50 (red trend-line) for the first time since March 31. So far the price has been rejected and that is a critical test as on March 31 the rejection initiated a brutal sell-off -75% to the May/ June Lows. With the 1D RSI exactly on its 1 year Resistance Zone, we have...
