CHRUSDT trade ideas
CHRUSDT is creating a penanntCHRUSDT is creating a pennant on the $0.17 area.
A pennant is a technical chart pattern that resembles a triangle. It's formed when there's a sharp move in the price of an asset, followed by a consolidation phase with converging trendlines. The pennant is typically characterized by decreasing trading volume and volatility as the price moves closer to the tip of the triangle. A clear breakout from the pennant pattern with significant volumes can be a strong indication of the direction of the next price move.
According to Plancton's Rules, if the price of CHRUSDT has a clear breakout with significant volumes from the pennant pattern on the $0.17 area, it may suggest a bullish trend. Traders could consider entering a new long position with the expectation of a continued uptrend.
CHRUSDT has gone beyond the level and is moving onOverall, the market mood is positive. Many coins are slowly starting to shoot. Therefore, it will look for a long with an adequate input. CHRUSDT is a great option, since at the moment the coin has come out of some kind of trading and now the price is behind the level, or rather it is testing it. Therefore, I expect further growth on a generally positive background. The movement target is 0.1920. Stop for the level at 0.1628.
CHRUSDT tests the level and moves onAccording to CHRUSDT, I see the situation like this: the coin has broken through the trend line into the short and is currently testing an obvious support level. In addition, a couple of days ago, the price drew a so-called "double bottom". Therefore, they must grow locally. The target is the next level at 0.1764. We put a stop for the level at 0.1446.
CHRUSDT (4H) - Bullish reversalHi Traders
CHRUSDT (4H Timeframe)
Waiting for the upward break of 0.1825 resistance level, which will complete a bullish trend reversal pattern to go LONG. Only the downward break of 0.1732 would cancel the bullish scenario.
Trade details
Entry: 0.1825
Stop loss: 0.1732
Take profit 1: 0.1882
Take profit 2: 0.1975
Score: 7
Strategy: Bullish reversal
CHR CREATING BULLISH CONSOLIDATIIONWe see CHR moving within a descending price channel, seeing a reaction at its Daily high-term timeframe of 0.1813
I would like to see a success break above our price channel, with high volume, before entering a long on this gem :)
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