$CHIP is bleeding slowly after distribution and setting up for another leg down...

Entry Range: 0.0910 – 0.0930

Stop Loss: 0.0955

Targets:

TP1: 0.0890

TP2: 0.0865

TP3: 0.0830

Price already formed a clear top and since then it has been printing lower highs and lower lows, confirming a bearish market structure. Every bounce is getting weaker, showing that buyers are losing control while sellers are stepping in consistently.

Right now price is attempting a small relief bounce, but this looks more like a retest of resistance rather than a reversal. The smart play is to wait for price to move into the entry zone and show rejection instead of entering in the middle.