💎 CHR has been a center of focus in the market but has faced challenges in breaking through the supply area. Historically, every time CHR has approached this resistance, it has been met with significant rejections. A successful breach of this resistance, probability could signal a considerable upward movement, moving towards our set target.
💎 However, if CHR remains in consolidation at the supply area without breaking out, there's a risk of facing another rejection, potentially leading back to the support level. If CHR loses this support, a move towards the demand area could be the next course.
💎 In the demand zone, it's crucial for CHR to exhibit a strong recovery and attempt to reclaim the support while aiming to break through the resistance. If CHR fails to respond positively in this area, there's a possibility it might also break down from the demand zone. This could result in a shift back to a bearish trend, with CHR possibly descending towards a stronger support area.
💎 However, if CHR remains in consolidation at the supply area without breaking out, there's a risk of facing another rejection, potentially leading back to the support level. If CHR loses this support, a move towards the demand area could be the next course.
💎 In the demand zone, it's crucial for CHR to exhibit a strong recovery and attempt to reclaim the support while aiming to break through the resistance. If CHR fails to respond positively in this area, there's a possibility it might also break down from the demand zone. This could result in a shift back to a bearish trend, with CHR possibly descending towards a stronger support area.
Trade closed: target reached
Bingo! #CHR is dancing to our tune, up 49.91% just like we predicted.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.