No One Will Tell You About This Huge Bullish Setup Of Chiliz (CHZ)

By moon333 | moon333 | 19 Jul 2021


 

SMAs and strong support zone:
The price action of Chiliz has broken down all the simple moving averages with the time period of 25 50 100 and 200. Now all the simple moving averages are working as a very strong resistance above the price action of the CHZ token. At the same time, the candlesticks of the Chiliz token also having a death cross formation between 50 and 200 SMAs above them, which is a very strong there is a signal.
But there is a very strong support zone beneath the price action starts from $0.235 and goes to $0.18. The stochastic oscillator is also in the oversold zone, therefore the price action can be reversed towards the upside form here.

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Symmetrical triangle:
While the price action is moving above a very strong support zone at the same time the support is being lifted towards the upside and resistance is moving towards the downside. This movement of the support and resistance has formed a symmetrical triangle and the priceline of the CHZ has moved at the end of the triangle and now the triangle is getting squeezed.

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Big harmonic bullish BAT:
Previously we had a nice trade of CHZ token.

2o54gnBj_big.png

https://www.tradingview.com/chart/CHZUSDT/2o54gnBj-Chiliz-CHZ-formed-a-bullish-Cypher-for-upto-14-move/ 

 

Now this time on the weekly time frame chart, the price line of CHZ has completed the final leg of bullish BAT . There is also 50 simple moving average support in the buying zone.

The buy and sell targets can be as below:
Buy between: $0.2111 to $0.1177

Sell between: $0.4337 to $0.7678

As per the above targets, this trade has a profit possibility of up to 550%, and the loss possibility is 44% therefore in order to minimize the loss we should use the weekly 50 SMA as stop loss.

UxjPZWmE_big.png

https://www.tradingview.com/chart/CHZUSDT/UxjPZWmE-Chiliz-CHZ-formed-a-huge-bullish-BAT-for-upto-550-big-rally/ 

 

Don't forget to upvote/tip and share the post, thanks

 

You can also support my work at Patreon for more ideas:

https://www.patreon.com/moon333

 

In order to play and watch the current performance of the chart you need at least a free account on tradingview:

https://www.tradingview.com/gopro/?share_your_love=moon333

KuCoin is one of the best exchange to find crypto gems:

https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3

 

Link for Binance exchange, to trade crypto:

https://www.binance.com/?ref=11256882 

 

 

Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.

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moon333
moon333

Hi, My name is Atif Akbar and I am a trader and trading charts author


moon333
moon333

Hi my name is Atif Akbar and i am trading charts author of different assets like crypto, forex, commodities, CFDs Stocks e.t.c.

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