Hello dear traders,
Today, one of the members requested an analysis of the #CHZ/USDT chart, and I prepared this analysis for him. Here’s the overview of the analysis:
Friends, although Bitcoin has experienced very strong growth, this cryptocurrency has not yet been able to replicate its exceptional movements from the early months. I have combined two analyses:
One is the annual purchase analysis, which requires several years for its return. Therefore, the main buying opportunity has not yet formed, and the historical order flow that caused this significant surge has not been fully touched. For this reason, we need to exercise a bit of patience.
On the other hand, the daily analysis indicates a small upward movement that may serve as a pullback to touch the extreme order block. In the extreme zone, a suitable buying opportunity is anticipated up to the peak, which is well shown on the chart. If the main long-term peak is established, we can anticipate a pullback and consider an excellent purchase for our annual target.
Therefore, we have two scenarios:
1. Either we buy in the annual block.
2. Or we buy in the daily extreme block.
If we purchase in the daily extreme, we can hold until the peak (where we can manage our positions), and if we buy in the annual block, we can hold until the long-term annual peak.
The chart is designed very smoothly, and I hope it proves useful for you.
Wishing you success!
