⚽️ Technical Analysis: Chiliz (CHZ)
Market capitalization: $308.4M.
The CHZ chart shows a classic situation for trading levels.
🟡 The price is "hanging" near important support, giving us a clear action plan.
How to trade❔
Scenario 1️⃣ (Bounce): We wait for a reversal candlestick pattern with a buy signal right off the support level.
💬 Stop-loss: Place it behind the level (account for long wicks and "fakeouts" to the left, leave some buffer).
Take-profit: Before the nearest resistance level above.
Scenario 2️⃣ (Breakout): If the price breaks support and closes confidently below it, we look for a short (sell) entry.
💬 Stop-loss: Behind the nearest formed extremum (high).
Take-profit: Before the next level below.
Conclusion:
CHZ is currently the ideal asset for those who trade with their eyes, not their emotions. A good risk/reward ratio is guaranteed with a disciplined entry.
📈 Open a trade with $CHZ
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