$CHIP
CHIPUSDT Perp – Technical Short Setup
Current price: 0.06680 (+30.8%)
Analysis:
• Clear rejection at the session high of 0.06922 (upper wick + S signal).
• Price trading below the MA7 (0.06701) after breaking below it.
• Excessive extension relative to the MA25 (0.06134) and MA99 (0.05452).
• Declining volume on the last few green candles (buyers losing momentum).
• Order book depth shows an accumulation of sell orders (asks) above the current price.
Setup:
• Entry: 0.06670 – 0.06720
• Stop Loss: 0.06960 (above the high)
• TP1: 0.06350 (previous consolidation zone)
• TP2: 0.06130 (MA25)
• TP3: 0.05800 – 0.05450 (projected move toward MA99)
Favorable R:R ratio if the stop is respected.
After such a sharp vertical move, the probability of a technical correction is high unless price recovers and closes above 0.0692.
#CHIPUSDT #Short #TechnicalTrading
CHIPUSDT Perp – Technical Short Setup
Current price: 0.06680 (+30.8%)
Analysis:
• Clear rejection at the session high of 0.06922 (upper wick + S signal).
• Price trading below the MA7 (0.06701) after breaking below it.
• Excessive extension relative to the MA25 (0.06134) and MA99 (0.05452).
• Declining volume on the last few green candles (buyers losing momentum).
• Order book depth shows an accumulation of sell orders (asks) above the current price.
Setup:
• Entry: 0.06670 – 0.06720
• Stop Loss: 0.06960 (above the high)
• TP1: 0.06350 (previous consolidation zone)
• TP2: 0.06130 (MA25)
• TP3: 0.05800 – 0.05450 (projected move toward MA99)
Favorable R:R ratio if the stop is respected.
After such a sharp vertical move, the probability of a technical correction is high unless price recovers and closes above 0.0692.
#CHIPUSDT #Short #TechnicalTrading