$CHIP pumped from $0.02147 to $0.03315+ before getting rejected hard by high-wick distribution candles, signaling clear selling pressure at the top.
Price is currently consolidating below $0.02950 - $0.03000, but the relief bounce lacks buyer momentum
The key level to watch is $0.02680. A 1H close below it could open the door to $0.02150.
Trade Plan:
- Entry 1 (Possible Relief Bounce): $0.02920 – $0.02980
Targets:
TP1: $0.02700
TP2: $0.02500
TP3: $0.02150
Stop Loss: $0.03080
- Entry 2 (Confirmation Breakdown): 1H candle close below $0.02680 or a weak retest of $0.02720 - $0.02750
Targets:
TP1: $0.02500
TP2: $0.02150
Stop Loss: $0.02820
Keep your position size small. This kind of volatile pair can attempt liquidity wicks before the bigger move starts.
Protect your capital and manage your risk. NFA!
Price is currently consolidating below $0.02950 - $0.03000, but the relief bounce lacks buyer momentum
The key level to watch is $0.02680. A 1H close below it could open the door to $0.02150.
Trade Plan:
- Entry 1 (Possible Relief Bounce): $0.02920 – $0.02980
Targets:
TP1: $0.02700
TP2: $0.02500
TP3: $0.02150
Stop Loss: $0.03080
- Entry 2 (Confirmation Breakdown): 1H candle close below $0.02680 or a weak retest of $0.02720 - $0.02750
Targets:
TP1: $0.02500
TP2: $0.02150
Stop Loss: $0.02820
Keep your position size small. This kind of volatile pair can attempt liquidity wicks before the bigger move starts.
Protect your capital and manage your risk. NFA!