#CHESS/USDT Breakout Strategy for CHESS/USDT#CHESS
The price is moving within a descending channel on the 4-hour frame, adhering well to it, and is heading for a strong breakout and retest.
We have a bearish trend on the RSI indicator that is about to be broken and retested, which supports the upward breakout.
There is a major support area in green at 0.06900, representing a strong support point.
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We are in a consolidation trend above the 100 moving average.
Entry price: 0.07265
First target: 0.07447
Second target: 0.07655
Third target: 0.07940
Don't forget a simple matter: capital management.
When you reach the first target, save some money and then change your stop-loss order to an entry order.
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Thank you.
Chesser
CHESS/USDT 4HOUR UPDATE BY CRYPTOSANDERS Welcome to this quick CHESS /USDT analysis.
I have tried my best to bring the best possible outcome in this chart.
Reason of trade:-CHESS/USDT cup and handle create look bullish trend and BUY the green zone wait for entry
Entry:-buy the green zone
Traget:-40% TO 50%
Stop loss:- $1.078
Remember:-This is not a piece of financial advice. All investment made by me is under my own risk and I am held responsible for my own profit and losses. So, do your own research before investing in this trade.
Sorry for my English it is not my native language.
Do hit the like button if you like it and share your charts in the comments section.
Thank you.
Chesser Resources: CHZ.AXWatchlist
Steady uptrend
Ascending triangle forming
Will need to see if the price respects the trendline and/or the medium term EMA
May see the price close the gap at 7.7c
Keeping any eye on the 8.9c level