CHZUSDTHello everyone,
*Mars Signals Team wishes you high profits*
This is a one-day-time frame analysis for CHZUSDT
As we analyzed on April 30, we expected a falling trend to happen for the price and here we can observe this precise prediction by our team. On the top, there are R3, R2, and R1 as the resistance areas which mention that the price was not able to rise at different points. And ultimately, S1 and S2 are our support areas of this chart that obviously contain the support of price variously. As we see in the past, the price trend faced a noticeable rise up to higher amounts each time it was supported at S2 and by some rejections at higher amounts and having disabilities in order to rise, it could not be supported anymore and continued its falling trend down to areas such as S1. There we had more support of price and his time the price could not move over R1 line at some points. Then the existence of two negative Marubozu Candles besides a doji one, meant more decline for it. Thus we have the price fluctuating in S1 area and we should wait for the price to give us more fluctuation and confirmation for a rise or fall. It is probable that the price is supported here or by losing the support and falling below S1, then it would be supported at S2 area and then start its rise toward higher amounts. The formation and close point of the last candle is so important. So if it is closed over S1, the possibility of a rise would be high but in case it is closed below S1, then we should wait for more decline. Also when the price loses the support and falls toward S2, that would be a good point for putting your orders. Please do not forget to wait for some signs such as confirmation candles in order to make sure of what will be your next movement and then act wisely. Our suggestion is to put your stop-loss point based on your amount of loss that you can risk at and try to experience more logical trades.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Have a nice time