CHRUSDT { CHROMIA } - BULLISH SETUPANALYSIS 🔎
- CHRUSDT hit an all-time high and retraced.
- Price is retesting the flip horizontal support.
- There's a relatively high concentration of buyers at this zone.
- The retracement was resisted by the descending trendline resistance.
- Price brokeout above the descending trendline resistance.
- This is a bullish signal.
- Price action is printing an ascending triangle pattern at the breakout region.
- This is a bullish build up pattern.
BUY ENTRY ⬆️
- Breakout above the ascending triangle resistance.
TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
SETUP INVALIDATION ❌
- Breakdown below the flip horizontal support.
CHRUSDT trade ideas
🆓Chromia (CHR) June-18 #CHR $CHRCHR is still accumulating buying in the past 1 month and as long as CHR conquers the $0.2 zone during this period, it will be easy to see a strong recovery to the $0.24 and $0.32 zone in the next few days. But if CHR loses the $0.18 zone, it will have a strong correction to the $0.14 zone
📈BUY
🔴Buy : 0.176-0.184$. SL if B
🔴Buy : 0.195-0.205$ if A. SL if B
📉SELL
🔴Sell : 0.195-0.205$. SL if A
🔴Sell : 0.235-0.245$. SL if A
🔴Sell : 0.315-0.325$. SL if A
♻️BACK-UP
🔵Sell : 0.176-0.184$ if B. SL if A
🔵Buy : 0.137-0.143$ if A. SL if B
❓Details
🕯Timeframe : 1 Day
📈Red Arrow : Main Direction as BUY and SELL section
📉Blue Arrow : Back-Up Direction as BACK-UP section
🟩Green zone : Support zone as BUY section
🟥Red zone : Resistance zone as SELL section
🅰️A : The Close price of candlestick is Above the zone
🅱️B : The Close price of candlestick is Below the zone
🔥 CHR Fake Out ReversalWith BTC falling, it's time for some overbought assets to fall back and correct their strong gains.
CHR (and several others) have seen very strong gains over the last couple of days, and are the first to lose their value when BTC continues falling.
As of now, CHR is consolidating around the top resistance of the triangle. Wait for a proper fall through this area before going short. Always keep an eye on BTC when trading alts.
Happy trading!
Going up These are highly dependent on the movement of Bitcoin. The Fibonacci model was used to draw support and resistance lines We show the triangle pattern, where the contraction of the support and resistance lines is observed The possibility for the CHR currency to rise in case the recent resistance at the corner of the triangle is broken.
CHRUSDT - LONGI am very bullish on CHR on the daily timeframe we can see market bounced of the descending trendline of this channel.... now we have broke above daily resistance and are retesting it as support - on the 1hr timeframe you can see market is consolidating in this wedge formation currently testing the support i am going long here nice scalp position.
Chromia Bullish retest on the dailyA very drastic and clear retest of its previous 2019 All Time High. This has a lot of room to run.
3 Months in the red, I always feel the most bullish when a coin has been out of the spotlight for too long.
Glad I've been accumulating. I hope you all have been too.