#CHR/BTC Trade Setup looks good here for a 70% short term trade. With the news of Token and Vault on Mainnet and DAPP Hosting at the End of September this coin must reach somewhere around 1000 sats. Within the next 6 -7 weeks the targets should reach. Ascending triangle broke down yesterday and bouncing hard from the support trendline of the long term channel. Highly likely that we will see a rally from this current area of demand.
ENTRY: CMP
TARGETS:
764 818 866 943 986
Stop Loss : 523
Fundamentals: Tokens Vaults on Mainnet DAPP Hosting at the End of Sept. So basically 6 weeks from now these events will occur which will drive the price to the upside.
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Comment
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Touched the support line of the channel and bounced. Forming an inverse Head and Shoulders pattern which is a trend reversal pattern. Expecting it to break to the upside. Once the whole channel is broken we can look at 65% + Profit.
1 more trade which is more probably go down then up from here. Still intact, but if it breaks 500-480 today it will fall hard. What do you think?
JustDCrypt
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Is this setup invalid because of the SL that is hit?
I got in around the SL and would like to stay in this trade but do not know it that is a wise decision?
Can you please help out?
Intu
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Great content as always....
Zee003
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Hello
It's a very good analysis of the(CHR) coin But it's making a double top in a 1D chart and i am thinking to hold this coin for 2 months and I need your suggestion about it may it worth holding it. But I am a little confused about the current situation of BTC What should I do?
Waiting for your response...
Thank you
Cryptorphic
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@Zee003, Alts must follow BTC. Dominance going down basically gives alts room to grow. CHR is a decent project.