$CHIP 1H 📊
CHIP is recovering nicely from $0.05139, but the chart is sitting right under a key resistance zone. The Supertrend is still bearish at $0.06105, so I’d be a little more selective here.
Preferred Setup: SHORT on rejection
Entry: $0.0600–$0.0610
SL: $0.0626
TP1: $0.0571
TP2: $0.0542
TP3: $0.0514
What stands out
• Price has recovered strongly from $0.05139
• Higher lows are forming during the recovery
• $0.0600–$0.0610 is the key resistance zone
• Supertrend remains bearish at $0.06105
• The previous high at $0.06249 is the bigger invalidation area
I wouldn't short blindly at $0.05946. Let price test $0.0600–$0.0610 and look for rejection first.
If CHIP gets a strong 1H close above $0.0611, the short setup loses strength. A clean reclaim of that level could instead open a bullish continuation toward $0.0625 → $0.0650.
Invalidation: 1H close above $0.0626.
Overall, the recovery looks good, but the trend hasn't fully flipped bullish yet. This is a patience zone: rejection gives the short, breakout gives the long.
#Write2Earn
CHIP is recovering nicely from $0.05139, but the chart is sitting right under a key resistance zone. The Supertrend is still bearish at $0.06105, so I’d be a little more selective here.
Preferred Setup: SHORT on rejection
Entry: $0.0600–$0.0610
SL: $0.0626
TP1: $0.0571
TP2: $0.0542
TP3: $0.0514
What stands out
• Price has recovered strongly from $0.05139
• Higher lows are forming during the recovery
• $0.0600–$0.0610 is the key resistance zone
• Supertrend remains bearish at $0.06105
• The previous high at $0.06249 is the bigger invalidation area
I wouldn't short blindly at $0.05946. Let price test $0.0600–$0.0610 and look for rejection first.
If CHIP gets a strong 1H close above $0.0611, the short setup loses strength. A clean reclaim of that level could instead open a bullish continuation toward $0.0625 → $0.0650.
Invalidation: 1H close above $0.0626.
Overall, the recovery looks good, but the trend hasn't fully flipped bullish yet. This is a patience zone: rejection gives the short, breakout gives the long.
#Write2Earn
