What’s going on with $CHZ ? Quick analysis and my next steps 📉
I've been diving deep into CHZUSDT and, to be honest, the current outlook calls for a lot of caution.
The chart shows a clearly bearish structure. With the price hovering near the lower Bollinger Band and market sentiment where the big players are still leaning towards short positions, the selling pressure is evident. Additionally, the fact that the Funding Rate remains negative confirms that the market is paying to keep those shorts open.
What am I watching now?
Key support: I'm closely monitoring the zone between 0.02150 and 0.02156. That's where I see a significant accumulation of buy orders in the Order Book that could act as a relief for the price.
My plan: I'm not going to rush. I prefer to wait and see if the asset can consolidate in that support zone before looking for a potential entry, or if the bearish trend breaks that level at 0.018 with force.
Trading is about discipline and patience, not guesswork. My focus now is to observe if that selling pressure eases before attempting any moves.
How do you see CHZ? Are you waiting for any specific levels or do you prefer to sit on the sidelines for now? I’ll read your thoughts in the comments. 👇
#Binance #Trading #Criptomonedas #CHZ
I've been diving deep into CHZUSDT and, to be honest, the current outlook calls for a lot of caution.
The chart shows a clearly bearish structure. With the price hovering near the lower Bollinger Band and market sentiment where the big players are still leaning towards short positions, the selling pressure is evident. Additionally, the fact that the Funding Rate remains negative confirms that the market is paying to keep those shorts open.
What am I watching now?
Key support: I'm closely monitoring the zone between 0.02150 and 0.02156. That's where I see a significant accumulation of buy orders in the Order Book that could act as a relief for the price.
My plan: I'm not going to rush. I prefer to wait and see if the asset can consolidate in that support zone before looking for a potential entry, or if the bearish trend breaks that level at 0.018 with force.
Trading is about discipline and patience, not guesswork. My focus now is to observe if that selling pressure eases before attempting any moves.
How do you see CHZ? Are you waiting for any specific levels or do you prefer to sit on the sidelines for now? I’ll read your thoughts in the comments. 👇
#Binance #Trading #Criptomonedas #CHZ