CHZ's recent market movement has been quite aggressive, with three consecutive weeks of gains nearly doubling in value. Yesterday was even more intense, with a single-day increase of nearly 17%. However, this rapid surge hides risks—K-line charts have entered an obvious overbought zone, and the hourly chart has already started to show consecutive bearish candles, indicating increasing signs of stagnation.
From a technical perspective, this lack of follow-through momentum at high levels usually signals an upcoming correction. Short-term counter-trend trading opportunities may be emerging.
If you decide to participate, setting take-profit between 0.039 and 0.040 is more prudent, with stop-loss placed at 0.056 to manage risk. For short positions, it's best to act early, as such reversals tend to happen suddenly.
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CHZ's recent market movement has been quite aggressive, with three consecutive weeks of gains nearly doubling in value. Yesterday was even more intense, with a single-day increase of nearly 17%. However, this rapid surge hides risks—K-line charts have entered an obvious overbought zone, and the hourly chart has already started to show consecutive bearish candles, indicating increasing signs of stagnation.
From a technical perspective, this lack of follow-through momentum at high levels usually signals an upcoming correction. Short-term counter-trend trading opportunities may be emerging.
If you decide to participate, setting take-profit between 0.039 and 0.040 is more prudent, with stop-loss placed at 0.056 to manage risk. For short positions, it's best to act early, as such reversals tend to happen suddenly.