Chilliz retesting broken support
Hello traders, that' s my new idea:
We have CHZ currently touching the strong support that was already broken, my analysis suggests me to enter a short position here.
Why?
It is situated in now a strong resistance and the probabilities of a breakout looking the bitcoin situation are quite low.
The EMA21 has crossed the EMA55, this indicates a downtrend and how it is said Trend is your friend.
It is testing the triangle line drawn in chart.
Entry, stop and take profit are in chart.
This is invalidated with a 4h close over the blue line.
I express only my opinion, do always your own research.
No financial advice.
We have CHZ currently touching the strong support that was already broken, my analysis suggests me to enter a short position here.
Why?
It is situated in now a strong resistance and the probabilities of a breakout looking the bitcoin situation are quite low.
The EMA21 has crossed the EMA55, this indicates a downtrend and how it is said Trend is your friend.
It is testing the triangle line drawn in chart.
Entry, stop and take profit are in chart.
This is invalidated with a 4h close over the blue line.
I express only my opinion, do always your own research.
No financial advice.
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