$CHZ Analysis and Trade Plan

The short liquidation of $6.7038K at $0.09123 indicates that strong buying activity is driving Chiliz (CHZ) higher.

Here's a detailed breakdown and trade plan for the next move.

Market Overview

Current Price: $0.09123

Market Sentiment: Bullish as shorts get squeezed.

Volume Analysis: Rising buy volume suggests potential continuation of the uptrend.

Key Levels to Watch

1. Buy Zone:

Range: $0.08900 - $0.09000

Look for a pullback to this area for a safer entry.

2. Target Levels:

Target 1: $0.09350 (Immediate resistance)

Target 2: $0.09600 (Mid-range target)

Target 3 (Extended): $0.10000 (Psychological resistance)

3. Stop Loss:

Below $0.08750

A breach of this level may indicate a trend reversal.

Trading Plan

1. Entry:

Enter positions around $0.08900-$0.09000 if price retraces.

2. Exit Strategy:

Take partial profits at $0.09350 and $0.09600.

Let remaining positions ride toward $0.10000 with a trailing stop.

3. Risk Management:

Use only 1-2% of your trading capital.

Stick to the stop loss to avoid unnecessary losses.

Indicators Supporting the Analysis

RSI: Still has room to move higher, signaling bullish momentum.

Moving Averages: Prices holding above short-term moving averages support the uptrend.

Fibonacci Levels: $0.09600 aligns with a key resistance level.

Next Price Action Prediction

If $CHZ maintains support above $0.09000, it could rally toward $0.09350 or higher. A drop below $0.08750 may lead to further downside, possibly testing $0.08500.

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