Tight range at resistance… breakout failing so far.
$CHZ /USDT (Perp) – SHORT
Trade Plan
Entry: $0.04580 – $0.04620
SL: $0.04720
TP1: $0.04350
TP2: $0.04180
TP3: $0.04001
Why This Setup?
4H Structure: Price repeatedly failing to break above $0.04616 → clear resistance rejection zone forming. No higher high confirmation.
Price Positioning: Trading right under resistance → ideal short zone with tight invalidation if breakout happens.
MA Context: Price likely compressing around short-term MAs without strong bullish expansion → indecision leaning bearish near resistance.
RSI Behavior: RSI hovering near mid-zone → no strong bullish momentum, leaving room for downside move.
Volume Insight: Weak breakout attempts with no volume expansion → suggests lack of buyer strength and possible distribution.
Daily Context: Still range-bound. Unless $0.04620 breaks clean, probability favors rejection back toward $0.040 support.
As long as $0.04616 holds, downside toward lower liquidity zones remains the higher probability play.
Debate:
Is this another rejection before a move back to $0.040…
Or will buyers finally break $0.046 and trigger a squeeze upward?
Trade $CHZ here 👇
