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weslad
Aug 17, 2022 9:45 PM

CHZUSDT Trading opportunities Long

Chiliz / TetherUSBinance

Description

Looking closely on the CHZ chart, with the mindset of mid term to Long term perspective, it was observed that price respect a trendline(Black TL). Each time price had a test on the TL, it give strong rejections.

The last move away from the TL, seems to be forming Bullish flag.

Our trading ideas right now will be to focus more on the ACCUMULATION zone shown with Yellow on the chart. Exit will be a break and closed of candle below the Black trendline.

Final target of the potential Bullish flag was shown also.

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Comments
worldlySnail92119
daily rsi is overbought i think we might see another -70% correction
weslad
@worldlySnail92119, correction is expected but 70% drop is not likely
Bozo5
target all big how price
ericdshelton
Great analysis. Way to stay patient for accumulation zone. Looking at your recent BTC analysis, do you anticipate CHZ taking until late 2025 to reach the pattern target?
SwallowPremium
Thanks for sharing CHZ! Thanks for the chart
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