CHZ breaking out

CHZ has been trying to break the daily support since a month and formed a cup & handle pattern. It seems that the breaking-out is going to be confirmed (on 1D TF).
Despite the weakness of BTC and almost the whole market, CHZ performs very well these days.

Volume indicators (OBV, MFI and CMF) are supporting this breakout:

OBV breaks the resistance
MFI breaks the trendlines and seems to reverse
CMF positive, already broke zero (from negative values) and continues to increase.

I hope this analysis can help you if you are intested in CHZ.

All comments are welcome! Thank you

Note

Based on the above analysis, here below a proposed setup for this trade.
* Entry: when CHZ broke the resistance (grey area) and successfully rested it.
* Take profit: between $0.2665 - 0.3317
* Stoploss: current candle's low $0.22

Trade active

CHZ broke the grey area resistance, rested it. Today, it has made 15% up.
If not entered, $0.24-$0.25 is a good buy zone.

Note

CHZ prices have entered in profitable area. Let's see how far it can go

Note

CHZ is retesting the current support $0.235-$0.25. It would be a second opportunity to enter (if this retest is successful).

Note

CHZ retested the support (grey area) and is bouncing.

Note

I would like to update the chart with higher time frame (1W).

The longterm trendline was broken with positive CMF. This is a good sign.

Other volume indicators still support the prices to go higher: increasing trend of OBV and MFI is still intact.

If you are confident on your Fundametal Analysis of CHZ (WC2022 is in about to come), new targets ($0.374 and $0.5) would be on the table.

Note

CHZ is at the support area. If succussfully resting, re-entry is possible.

Note

CHZ didn't succeed to hold the support. The price is now at 50D EMA support.

evasivesteering

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evasivesteering

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