After the $CHIP 90-day high, there are three common paths:
① It retests 0.06237 and holds, turning the previous high into support; ② It consolidates near the highs as volume gradually tapers off; ③ It falls back below 0.06237, making it a false breakout.
The current price is 0.06762, still above the previous high, so it’s too early to tell which path we’ll take. Trading volume this time was five times the 20-day average, so whether it can be sustained is key.
What are your reasons for being bullish or bearish?
NFA, DYOR.
① It retests 0.06237 and holds, turning the previous high into support; ② It consolidates near the highs as volume gradually tapers off; ③ It falls back below 0.06237, making it a false breakout.
The current price is 0.06762, still above the previous high, so it’s too early to tell which path we’ll take. Trading volume this time was five times the 20-day average, so whether it can be sustained is key.
What are your reasons for being bullish or bearish?
NFA, DYOR.