CHZUSD - 1W - giant compression ... which way ? hi guys,
As you can notice Chiliz price is moving inside this huge symetric triangle since march. Triangle is close to its end.
So what's next ? A symetric triangle is a 50/50 pattern. 50% down 50%up.
We are currently sitting on the triangle support and between 0.618 and 0.786 fib retracement of the last wave up.
This is an important level to hold.
Close under I think we are going to visit the 0.16$ and then 0.12$
The huge resistance is @ approx 0.5$. A close above should send CHZ to the next fib extension levels.
So this is still uncertain. The macro trend is bullish but be ready for both scenarios
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NFA
