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CHESS / USDT Spot Trading Pair

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CHESSUSDT trade ideas

CHESS to print a 2000% move?On the above weekly chart price action has corrected 96% since late 2021. A number of reasons now exist to consider a long position, including: 1) Price action and RSI resistance breakouts. 2) Support and resistance. Price action prints multiple weekly candles on past resistance. Oh yes. 3) Regular bullish divergence. Multiple oscillators print positive divergence with price action as measured over a one month period. This includes money flow. 4) The falling wedge forecasts a 2600% move from the breakout point as measured from the lowest and highest touch-points (blue circles). Is it possible price action corrects further? Sure. Is it probable? No. Ww Type: Trade Risk: <=6% Timeframe for long: Yesterday Return: 20-25x
Long
by without_worries
17
Chessusdt Trading opportunityCHESSUSDT appears to be trading within a descending channel formation, it seems to have completed a five descending legs. This observation gives us a strong bullish bias for the coin, as we are now anticipating a breakout to the upside in the near term. To capitalize on this potential upward movement, we have identified a possible accumulation zone. This zone is selected based on historical support levels and the lower boundary of the descending channel, which traders may consider as an entry point for long positions. To manage the inherent risks of trading, we suggest placing a stop loss just below the most recent swing low within the channel. Furthermore, we have outlined specific profit target levels on the chart. These targets are based on key resistance levels that could be encountered as the price ascends post-breakout. Your engagement with our content is highly valued, so please remember to support our work by liking this post. Thank you for your input and interaction.
Long
by weslad
3
CHESS/USDT Gearing Up for a Bull Rally? 👀🚀 CHESS Analysis 💎Paradisers, turn your attention to #CHESSUSDT, as it's signaling a potential for a noteworthy move from a crucial demand level. 💎 #Tranchess is charting an upward course, indicating a likely bullish departure from its current demand zone. We're looking at a potential retest of the demand level at $0.17, with a significant supply zone on the horizon. If #CHESS holds firm above this mark, it may set the stage for an ascent toward the major supply zone at $0.26. 💎If #CHESS encounters difficulties in holding above the support level, a reassessment of our trading approach might be necessary. In that event, we would consider initiating a bullish movement from a lower bullish Order Block (OB). 💎Monitoring this level closely is essential, as dropping below it could initiate a considerable bearish trend. 💎Stay vigilant and ready to adapt, Paradisers. Your ParadiseTeam is committed to offering the latest insights and strategic advice, ensuring you're primed to effectively tackle these market developments.
Long
by MyCryptoParadise_Simon