$CHZ To provide you with the next steps for trading Chiliz based on the given short liquidation, let's go through the information in a structured format.
Analysis Breakdown.
1. Buy Zone.
For a potential buy opportunity, we need to consider the current market conditions and potential support levels.
A strong buy zone for $CHZ could be around the $0.0800 to $0.0830 range, which aligns closely with recent support levels and short-term market patterns.
Buying in this zone could provide an opportunity to enter the market at a level that offers potential short term gains.
2. Target Levels.
Short-term target.
If the market momentum continues positively, you can aim for a short term target of $0.0930 - $0.0950.
Long-term target.
A more extended target could be around the $0.1000 level, depending on market conditions and bullish sentiment.
3. Stop Loss Level.
A conservative stop loss would be placed below the recent low of around $0.0750.
You could set a stop loss around $0.0730 - $0.0740 to limit potential losses in case the market moves against your trade.
Key Considerations.
Volume and Momentum.
Ensure that the trading volume is increasing as the price moves towards your buy zone, which could indicate a strong buying interest.
Market Sentiment.
Monitor the overall market sentiment and news related to $CHZ, as any negative news could affect the price movement.
Technical Indicators.
Keep an eye on indicators like the Relative Strength Index and Moving Averages to gauge momentum and trends.
This analysis is based on short term trends and the short liquidation at $0.08676. Always use proper risk management, and don't invest more than you can afford to lose.
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