Ever since CHZ topped in March 2021 it has generally been trading bearish. During this period, a bearish channel has appeared on the chart.
As of today, CHZ has presumably successfully broken out of this bearish channel, making it a bull-flag break out.
With BTC on the verge of closing above the 20-week moving average, a classic long-term bearish/bullish indicator, I wouldn't be surprised if we're going to see a lot of altcoin strength over the coming weeks/months.
Targets in blue.
As of today, CHZ has presumably successfully broken out of this bearish channel, making it a bull-flag break out.
With BTC on the verge of closing above the 20-week moving average, a classic long-term bearish/bullish indicator, I wouldn't be surprised if we're going to see a lot of altcoin strength over the coming weeks/months.
Targets in blue.
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