2026-01-11 03:25:33

CHZ's recent market movement has been truly fierce—rising for three consecutive weeks, with gains nearly doubling. Yesterday, it surged nearly 17%, looking unstoppable. However, from a technical perspective, issues are beginning to surface.

The price has entered the overbought zone, with consecutive bearish candles on the hourly chart, showing clear signs of stalling and pulling back. What does this mean? It indicates that the short-term bullish momentum is weakening. If it cannot break through the previous resistance levels next, a pullback is highly likely.

After such a rapid increase, market sentiment often cools down. The pressure from profit-taking is significant. So, if you want to participate in short positions, consider entering at higher levels, with stop-loss placed above the previous high, targeting the nearest support zone.

Honestly, at this point, risk management is the most critical. Keep your positions reasonable, execute stop-losses diligently, and avoid being caught off guard by sudden rebounds. The market always alternates between gains and declines, so managing your risk properly is the most important.

CHZ7.21%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.

8 Likes

Reward
8
6
Repost
Share

Comment

0/400

BlindBoxVictim

· 9h ago

Doubling again and still want to go short? If it drops this time, I'll eat shit. --- Same old story, no one calls out when it rises, only regrets when it falls. --- Heard the term overbought area so many times, but it still skyrocketed to the sky. --- Really, stop-loss is always the hardest step to execute. --- CHZ this time is different, feels like there's a whale playing. --- Profit-taking pressure? Haha, easy to say, hard to do, brother. --- Risk control sounds simple when you say it, but when the market hits, everyone forgets that shit. --- Waiting for a correction for a year, and this time I guess I'll be empty-handed again.

View OriginalReply0

FancyResearchLab

· 9h ago

It's the same old story. Theoretically, it should be feasible, but I still bet five dollars that someone is still going all-in at high levels... Luban No.7 is under construction again, and this smart trap will probably cause a few more retail investors to get wrecked.

View OriginalReply0

consensus_whisperer

· 9h ago

Doubling again and still want to chase? This wave of CHZ feels like a scammer's trick. --- It's already in the overbought zone, and you're still going all in? I don't have that courage. --- Signs of stagnation and pullback are already showing; short positions definitely should be considered. --- Honestly, risk control is the hardest part. I always lose here. --- Stop loss at the previous high? Easy to say, but when it comes to execution, I get cold feet. --- Isn't it a rule that after a rapid surge, there's a sharp drop? It's a common saying. --- This kind of market tests your mentality the most; it's no wonder profit-taking isn't being sold off. --- The ones who try to bottom fish always die the fastest, paid the tuition again.

View OriginalReply0

RektRecorder

· 9h ago

I'm so scared by the surge, high-position short positions are indeed attractive

View OriginalReply0

orphaned_block

· 9h ago

This wave is indeed fierce, but the overbought signal is so obvious that a pullback is inevitable.

View OriginalReply0

WhaleMinion

· 9h ago

Everyone envies the doubling market, but afraid of a pullback to hit the face --- Overbought zone lying flat, a series of bearish candles, I've seen this pattern too many times --- Profit-taking will hit, I want to buy the dip at high levels, not buy the top --- Risk control is easy to talk about but hard to do, when it’s time to make money, who still remembers to cut losses --- If it can't break through the resistance level, it's doomed. This wave of gains feels a bit fake --- Three weeks of consecutive doubling? But then it can turn around and wipe out everything, I've seen too many such dramas --- The last sentence is the most heartbreaking: always alternating between rise and fall, I’m the one losing money --- Where is the support zone? Feels like there’s no bottom when it drops --- Reasonable position sizing and stop-loss execution, sounds right, but who can stay calm when it really crashes --- The hourly chart is filled with bearish candles, is this a sign of a reversal?

View OriginalReply0