Yello, Paradisers! Is $CHZ about to break out into a bullish rally, or will the support zone crumble and invalidate the setup? We’re at a critical decision point, and how price reacts at key levels will be crucial. Let’s break it down.
💎CHZUSDT has formed a W-pattern at a key support zone, which is a classic bullish reversal structure. This pattern increases the probability of an upward move, but it still requires confirmation. Without a proper breakout above resistance, the #bullish setup remains incomplete.
💎To validate the W-pattern and increase the chances of bullish continuation, CHZUSDT needs to break through the resistance level and close a candle above it. A confirmed breakout at this level would signal strength from buyers and could lead to a significant upward move.
💎However, if the price #pullback instead of breaking out, there’s still hope for the bullish case. In the event of a retracement, we can expect a bounce from the strong support zone. But to increase the probability in our favor, it’s essential to watch for bullish signals on lower time frames. These include an Internal Change of Character (I-CHoCH) or familiar patterns like a smaller W-pattern or an inverse head and shoulders. Seeing any of these will reinforce the bullish outlook.
💎On the other hand, if the price breaks down and closes a candle below the strong support zone, the bullish idea becomes invalid. In that case, it’s better to step back and wait for cleaner price action to form before making any new decisions. It’s never a good idea to force a trade when the market is unclear.
Patience is key here. The market rewards those who wait for high-probability setups rather than chasing moves without confirmation. Discipline and a clear strategy will always keep you ahead.
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