Technical Analysis - Chiliz
CHZ/BTC - 03/03/2020
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As shown above, we will be updating the technical analysis of CHZ/BTC from the 02 of February.
Since the last update, CHZ has made amazing moves and almost more than 100% of profits by following our very simple analysis. It had massive announcements and catalysts which have pushed the price to incredible heights. Currently, we have retraced form the big increase and might be starting a new push upwards soon.
As mentioned above, the mentioned bullish divergence in the previous update, combined with the MKAST Algorithm Buy-signal, has been a fantastic money-maker on this pair. Now that the FOMO has settled and the crazy pump has cooled down, we are at a very important level for CHZ again. This is the level where CHZ has broken down from already two times after breaching it. This time though, it is re-testing this level almost immediately and could be starting to get ready to break it once and for all. The TJ-Index is already very low and starting to turn upwards, showing us clear signs of strength. The MKAST Algorithm is going to be turning into a buy-signal again, should we break the local resistance and re-test it. As we are talking about a re-test, an experienced trader would be looking for trades after or at the re-test of the green key-area. The initial push through this key-area should be strong and supported by strong volume, which is currently still missing.
This Technical Analysis is made by Kong Trading. The provided Analysis should not be considered financial advice!