CHZBTC trade ideas
CHZ/BTC TA Update (Golden Fib Support?)CHZ/BTC
CHZ broke below 50 Day MA and hit the golden Fib 0.618 level. Price reacts to this support but not enough to get above the 50 MA.
CHZ could consolidate between 100-122 sats within a week to form support if the price can hold it.
Bearish price action if the daily candle closes below 99 sats.
CHZ/BTC Decisions to makeRight now we can see CHZ at the bottom support of a 5 week long wedge. Also over the last 2 weeks we are in a falling wedge within this formation and it is riding along the 5 week support trend. If we see a bounce here we would breakout of the falling wedge and likely push to the top resistance of the 5 week wedge which can push as high as 155 Sats area. If the 5 week wedge support was to be breached we could see a dumping to the accumulation zone of 100-115 Sats area (Shaded Rectangle).
CHZ/BTC in falling wedge meets support zoneWe can see a very clean falling wedge formation in 4h and also 1h chart. The bottom of the falling wedge fits perfect with the support zone. In my Opionion this is a good point to see some serious bounce in CHZ/BTC.
Always use SL and do your own research. Also be carefull with altcoins when BTC makes big moves.
Thank you for reading my first post! Feel free to give some feedback!
Today`s ALT!!! CHZBTCBINANCE:CHZBTC
Exchange : Binance
Coin: CHZBTC
Buy Zone: 0.0000015~0.00000143
Target Point: 0.0000016/ 0.00000169/ 0.0000018/ 0.00000195/ 0.00000215/ 0.00000285
S/L: 0.0000014
Risk: HIGH
Term: Middle
You should be careful in buying CHZBTC because of Bitcoin
Wave 4 stopped at Fibonacci 382 of Wave 3
There was not much selling amount in spite of Bitcoin`s movement, so there is Bearish Divergence now
The Volume is almost down
It`s time to start Wave 5 !!!
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Today`s ALT is that information is raised regardless of the Coin market situation
So sometimes there`s a high risk trading
Investment is your responsibility.
I'm just providing about coin`s information
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