SERIES OF BEARISH CANDLESTICKS HAVE STOPPED FOR #CHZ: THE NEXT PRICE ACTION IS?
If you're looking for an in-depth analysis of CHZ, then, you're in the right place.
Here's why.
CHZ has been declining since last 2021's peak which is pretty normal considering how the market must maintain equilibrium state. In order to maintain its equilibrium, the selloffs have been presented and thus creating the long series of bearish candlesticks indicating a decline. Right now, as the decline is happening. Retracements are also in progress in the short-term market structure of CHZ. To ensure the market structure will have its point of reversal, many are testing out the price and accumulating bags on the current support which was the catalyst of the previous markup last 2021 at 0.0494, below the support at 0.0165 which was the previously broken major resistance and in-between these two. Once everything has been prepared, we will then observe and finalize our analysis of its best potential reversal zone.
Stay wise, trade cautiously.
