CHZ has had quite interesting price action lately. On the hourly chart, it was pulled up from the lower band of the ascending trend and rushed directly to the upper band position. On the 4-hour chart, it clearly closed a small yang line with increased volume, but this rally encountered considerable selling pressure. Especially now as it approaches 0.05, a historical resistance level that has always acted as a barrier. From the current formation perspective, reducing positions for risk hedging is indeed a reasonable choice. After all, near such resistance levels, the balance between risk and reward needs to be reassessed.
CHZ has had quite interesting price action lately. On the hourly chart, it was pulled up from the lower band of the ascending trend and rushed directly to the upper band position. On the 4-hour chart, it clearly closed a small yang line with increased volume, but this rally encountered considerable selling pressure. Especially now as it approaches 0.05, a historical resistance level that has always acted as a barrier. From the current formation perspective, reducing positions for risk hedging is indeed a reasonable choice. After all, near such resistance levels, the balance between risk and reward needs to be reassessed.