🔻 $CHIP — Weak Structure After Drop
CHIP is still showing fragile structure after the recent sell-off. The bounce looks corrective rather than impulsive, which keeps downside risk open if resistance holds.
📊 Trade Setup (Short)
Entry Zone: $0.0695 – $0.0705
Stop Loss: $0.0725
🎯 Targets:
TP1: $0.0675 (first liquidity sweep zone)
TP2: $0.0655 (support breakdown area)
TP3: $0.0630 (deeper downside extension)
🧠 Market Structure Read
Bounce lacks strong volume confirmation
Price still trading under recent breakdown zone
Recovery looks like pullback into resistance, not reversal
⚠️ Invalidation Risk
If price pushes above $0.0725 with strength, then:
Short structure fails
Move likely shifts into range recovery instead of continuation down
🎯 Final Take
CHIP is currently:
bearish-biased until structure proves otherwise
This setup favors continuation down unless buyers reclaim lost structure with volume.
