I’m watching $CHIP because the recent pullback looks like a corrective move after a strong weekly rally of over +116%. Even after the -9.89% drop, price is still holding near a key support area instead of breaking the structure completely.
Right now, $CHIP is trying to stabilize around the $0.070 zone, which makes this level important for a potential rebound.
Trade Setup I’m looking at:
Entry Zone:
$0.0705 – $0.0725
Stop Loss:
$0.0680
Targets:
TP1: $0.0820
TP2: $0.0950
Why this setup works:
I’m focusing on the fact that the pullback is happening after a strong impulse move, not a breakdown trend. That usually means the market is cooling off and looking for liquidity before the next leg up.
The $0.070 area is acting like a demand zone where buyers are still active, and the high long ratio (58.92%) suggests traders are positioning for a recovery bounce.
If price holds above this zone, it creates room for a reversal back toward the previous highs. But if $0.068 breaks, the structure weakens and I step out immediately because the setup is invalidated.
For me, this is a simple reaction trade — not forcing direction, just following structure and momentum.
.
#OpenAIReportedlyWorkingonanAISmartphone
#WhiteHouseAdvisorTeasesBitcoinReserveAnnouncement