Rejection near recent highs… setup leaning toward downside continuation.
$CHZ /USDT (Chiliz) – SHORT
Trade Plan
Entry: $0.04650 – $0.04880
SL: $0.05050
TP1: $0.04480
TP2: $0.04444 (MA25)
TP3: $0.04100
Why This Setup?
4H Structure: Price failing to break above $0.04908 → forming a potential lower high. No confirmed breakout structure.
Price Positioning: Trading just below resistance → ideal short zone with clear invalidation above recent highs.
MA Context: MA(25) at $0.04444 acting as first key support. Loss of this level can accelerate downside toward $0.041 base.
RSI Behavior: RSI hovering near mid-zone → no strong bullish momentum, favors rejection from resistance.
Volume Insight: Breakout attempts lack strong volume → suggests weak buyer conviction and possible distribution.
Daily Context: Still range-bound. Unless $0.049 flips into support, upside remains limited and pullbacks are likely.
As long as $0.049 holds, downside toward $0.044 → $0.041 liquidity zones remains the higher probability move.
Debate:
Is this a lower high before a move back to $0.041…
Or will buyers break $0.049 and push toward a trend reversal?
Trade $CHZ here 👇
