CHZ/USDTPERP Long-Term Trend: Bearish
Key Resistance Levels: 0.26050, 0.29521, 0.30000
Key Support Levels: 0.23221, 0.21282, 0.21200
The price on the higher time frame is traded inside a support & resistance which are respectively the 0.23221 & 0.26051 USDT marks. The market tested the resistance and failed to break where it left a bar with long wick to the upside (Highlighted by the arrow).
CHZ/USDTPERP Medium-Term Trend: Bearish
On the lower time frame, the price succeeded to break the bullish channel to the downside, and an inverse head and shoulders is formed. We expect a higher correction to the highlighted zone before a new impulsive wave to the target profit.
Sell Limit Order @ 0.25448
TP 1 @ 0.23256
TP 2 @ 0.21282
Stop Loss @ 109.87
Trade Safely 🙂