$CHIP: Breaks Ascending Support Line: Bearish Momentum Surge
SHORT SETUP CHIP
Entry: $0.05210 - $0.05220
Stop Loss: $0.05450
Take Profit: $0.04745 (2R)
Key Levels: Support $0.05065 | Resistance $0.05272
Technical Analysis for $CHIP: Price sits just below the 1hour resistance at 0.05272, with EMA9 above EMA21 and EMA50, indicating an underlying uptrend. However MACD histogram is negative and the orderbook shows a 13.9 % sell imbalance, while Stochastic is deep in oversold territory (K 29). The bearish bias dominates, making a short near 0.05210.0522 reasonable. Watch for a break above 0.0545 to
Market Context: BTC remains bullish on 4hour and daily charts, trading around $85,600, supporting overall market optimism.
SHORT $CHIP
SHORT SETUP CHIP
Entry: $0.05210 - $0.05220
Stop Loss: $0.05450
Take Profit: $0.04745 (2R)
Key Levels: Support $0.05065 | Resistance $0.05272
Technical Analysis for $CHIP: Price sits just below the 1hour resistance at 0.05272, with EMA9 above EMA21 and EMA50, indicating an underlying uptrend. However MACD histogram is negative and the orderbook shows a 13.9 % sell imbalance, while Stochastic is deep in oversold territory (K 29). The bearish bias dominates, making a short near 0.05210.0522 reasonable. Watch for a break above 0.0545 to
Market Context: BTC remains bullish on 4hour and daily charts, trading around $85,600, supporting overall market optimism.
SHORT $CHIP
