From a volume and mean regression POV. From the volume profile we can see ~50/51 is an area of high value and during the current session, we can see price has had an impulse towards that zone after testing the mean.
At the beginning of March CHZ had a huge impulse which reverted from the mean by almost 5000%. Naturally in any market price tends to regress to the mean. Through that theory, instead of a freefall back down CHZ consolidated for quite some time. Price finally came back to the mean 2 days ago, which will now act as an area of support until this bull run is over. Looking at the naked chart I can also already tell this area is either on, or near a key fibonacci level regardless of where you choose to draw your peaks.
From here, given there are no huge fundamental factors affecting the market, I expect CHZ to continue to rise from this level to the next area of value noted by the orange bars.
I decided to look at the chart after seeing a tweet from one of the founders. Currently they have 32 professional teams onboard...mostly futbol teams. nuff said.
Previous analysis linked.
At the beginning of March CHZ had a huge impulse which reverted from the mean by almost 5000%. Naturally in any market price tends to regress to the mean. Through that theory, instead of a freefall back down CHZ consolidated for quite some time. Price finally came back to the mean 2 days ago, which will now act as an area of support until this bull run is over. Looking at the naked chart I can also already tell this area is either on, or near a key fibonacci level regardless of where you choose to draw your peaks.
From here, given there are no huge fundamental factors affecting the market, I expect CHZ to continue to rise from this level to the next area of value noted by the orange bars.
I decided to look at the chart after seeing a tweet from one of the founders. Currently they have 32 professional teams onboard...mostly futbol teams. nuff said.
Previous analysis linked.
Comment:
Last Analysis
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
