Guys, $CHIP just showed a 2.2x volume spike and dropped 5% in 15 minutes. That’s aggressive selling, but is the bullish structure really broken? 👀
I’m not rushing to SHORT after a sharp flush. I’m watching for buyers to defend the demand zone.
🟢 LONG $CHIP
📍 Entry Zone: $0.05855 – $0.05991
🎯 TP1: $0.06556 🎯 TP2: $0.07257 🎯 TP3: $0.07690
⚠️ Invalidation: 1H close below $0.05154.
Why am I still bullish? 📊
• The 1H structure remains bullish above the trend-flip level. • The volume spike could reflect liquidations and panic selling, but it does not confirm a liquidity grab on its own. • I want to see a sweep into the entry zone, followed by a strong 5m or 15m bullish rejection candle. • If BTC weakness spreads across the market, I’ll be extra cautious.
I’m not buying blindly into the dump. I want confirmation that buyers are stepping back in.
No FOMO. No chasing red candles. Let price come into the zone and prove the setup. 🚀
📊 OI: $18.6M (+98.6% in 24h) Funding: +0.0007% | Taker ratio: 0.98×
Educational analysis only, not financial advice. Verify live prices and market conditions before entering.
#CHIP
#Crypto #Binance #Trading
I’m not rushing to SHORT after a sharp flush. I’m watching for buyers to defend the demand zone.
🟢 LONG $CHIP
📍 Entry Zone: $0.05855 – $0.05991
🎯 TP1: $0.06556 🎯 TP2: $0.07257 🎯 TP3: $0.07690
⚠️ Invalidation: 1H close below $0.05154.
Why am I still bullish? 📊
• The 1H structure remains bullish above the trend-flip level. • The volume spike could reflect liquidations and panic selling, but it does not confirm a liquidity grab on its own. • I want to see a sweep into the entry zone, followed by a strong 5m or 15m bullish rejection candle. • If BTC weakness spreads across the market, I’ll be extra cautious.
I’m not buying blindly into the dump. I want confirmation that buyers are stepping back in.
No FOMO. No chasing red candles. Let price come into the zone and prove the setup. 🚀
📊 OI: $18.6M (+98.6% in 24h) Funding: +0.0007% | Taker ratio: 0.98×
Educational analysis only, not financial advice. Verify live prices and market conditions before entering.
#CHIP
#Crypto #Binance #Trading