CHR consolidation about to ended


Market & Ticker: Chromia – CHR/USDT 


Date: 13/08/2023 

Horizon / Timing:  Tactical Mid-term / 1 to 3 months 



CHR is progressing in a descending flag pattern (consolidation in orange). The current configuration is calling for an imminent bullish exit to trigger an upside swing towards 0,1730 and 0,24 (auto similar move) 
The scenario is to buy the dip on current level to anticipate the next volatile upside move towards 0,1730 and 0,24 as long as 0,10 remains a support valid in daily close. An extension of the swing towards 0,30 is likely on the mid-term 


Technical Key Elements: 


- Auto similar move potential 0,24 – Exit from consolidation pattern potential 
- RSI indicator is about to confirm a new bullish momentum close to 50% area 
- The Moving average are still acting as resistance on current level 
- Fibonacci key support is adjusted at 0,2050 while the Elliot wave shows upside potential towards 0,2830 and 0,3540 

Trade Idea conclusion:  Buy - Conviction:




Target 2: 0,24 

Target 1: 0,1730 

Buy: add in dip area 0,1180/0,1070 

Stop: 0,10 (Daily close) 



Chart: Daily Basis (Candle Stick) - Logarithmic  

Indicators: Exponential Moving Average (21/34/89) - RSI (21) logo


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