CHZ will bounce?

7 Eki 2022

Hi all,

I would like to have an update on CHZ.

We can see that CHZ is moving in a rising wedge. At the moment, the prices are at the lower trendline and the EMA 50D supports, after falling from $0.283. The trading volume continues to decline which indicate that the selling pressure has been almost dissipated.

For these reasons, here below is a LONG setup proposal:

• Entry: Around the actual price (or waiting for a bullish 1D candle for a safer trade)
  
• SL: $0.1975
  
• Invalidation: 1D candle closing below the support trendline.
  

10 Eki 2022

İşlem elle kapatılmış

CHZ became weak and the wedge seems to be broken down.
Invalidation in my opinion.