Chiliz Hits Support | Will It Bounce? | Chart Signals

Chiliz (CHZBTC) almost hit the .786 Fib. retracement support and started to bounce... Let's take a quick look at the signals:

• Prices for CHZBTC bounced just above .786 Fib. For bullish cycles, .618 Fib. can be enough to complete a retrace so reaching lower and bouncing with strength can be a bullish signal.
  
• Volume is showing up.
  
• Break above EMA10.
  
• EMA100 being challenged.
  
• Bullish RSI.
  
• Bullish divergence on the MACD + bullish cross.
  
• Downtrend line broken.
  

There you have it... You can find the important support and resistance levels marked on the chart.

My view
I believe Chiliz can produce some good growth here... There is still the possibility of another low before fully resuming the uptrend, but a bullish move is still due now.

Thanks a lot for reading.

Namaste.

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Commento:

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