OVER 800% GAINS COMING? CHILIZ CHZ ANALYSIS & UPDATE | CRYPTO NEWS TODAY
Next year for chilis, as we get into this video, if you do find it useful and informative hit that like button, i really do appreciate that if you happen to be new, why not go ahead and subscribe tap that bell select all notifications and in doing so You will be kept up to date with absolutely everything that we do here at cheeky. Crypto with that said, done out of the way lets dive right down into this weekly chart for chilis, so really want to just highlight the the kind of progress that weve had so far right, really starting back in march of 2020 and good kind of sizable impulse Waves to the upside right wave one and took us into uh an interesting area it took us to about uh 2.2 and in august of 2020., then had a pullback uh in line pretty much with the rest of the crypto space and kind of bottoming out around October trading sideways before we hit the new year and really went nuts to the upside way, three peaking up here in march. So, basically, from march to march a 364 day move has seen 25 thirty 231 percent in games. We then started to see a pull back. So, if youre unfortunate enough to be buying chilis at the top of way, three youve had to endure this kind of uh bottom uh of wave four right coming in unless you were selling and succumbing to the fear, thinking that were going into a bear market.
Ultimately, you know youve had to endure all of this kind of corrective wave right. Now, though, we are looking to push back to the upside, and we are going to talk about some interesting things that are on the horizon. Next, we can see that during this 4th wave correction, we were oversold just down at the bottom here we were oversold also during our second wave correction, on the flip of that we have wave one where we were overbought um and obviously we actually peaked when we Were actually lower than the previous uh overall area same with wave three, we peaked up down here, small pool back, bringing us back down and then went overboard again for wave threes peak. Now we obviously were overbought as we started to spike up here. We pulled all the way back down to the bottom here, so we are looking to grow our weekly chart back to the upside and back to the overall area. We do anticipate another 887 in gains taking us to about 3.46 based on the current performance. This is based on the top of way three and the bottom of wave. Four, take those two things into consideration and the fib four point: two three six extension comes in at three dollars and forty six cent, so overall um. As long as everything continues the way it has been um during this uh quarter, four thats, the expectation, 887 and 3.40 – obviously not financial advice, but i would be intending to basically sell on the way up at all of these different keep prices uh on the fifth Areas here, um to lock in those profits on the journey to the upside, rather than waiting um to get to that magic.
4.236 extension, okay, um, otherwise lets jump down into our daily. We can see a little bit more of the volatility and things that has been going on most recently here. We obviously do have our six one, eight seven, eight two, seven, eight six thats our yellow box just there and we can see that we have been tracking down a little bit here and ultimately weve um. We started to see a bit of a break. Right were up against resistance right now, which comes in on this 236 area, and this is basically 34.7 okay. So this is an area that we broke through tested it as support, and then bitcoin pulled us down at the earlier uh early september, right, bringing us right down into this opportunity to buy the dip, okay and uh. Basically, we started to see some corrections so back to the upside overbought right now, um on our daily and again, this isnt a problem because we have been up here for quite some time during this move right and being open overbought. So we can be overbought for a while, yet um, but well eventually have to wipe that uh that stochastic out now that to do that, we can, of course trade sideways. Take that momentum out, and we can of course also push the price up. Whilst we drop that momentum off the stochastic so right now, we are looking to lower that stochastic over time and it doesnt have to be anything major.
We can see that completely wipe out very quickly without doing any damage to the price and then take that next step to the upside. So it all depends on the sentiment of the space and how the market is feeling right. Now. I think every everyones kind of watching bitcoin to see what bitcoin does if bitcoin does break past its 786 and 57k area and which right now is um its not looking great im, not gon na lie um then you know. If that does happen, then i think thats, where chilis will really start to come in people with more confidence in the crypto space if bitcoin doesnt, which i think is actually going to get rejected from the 702 looking at it this morning and then actually pulling down To the 618 is probably the most likely clause for bitcoin around that 51k area and if that happens then do expect a small pullback with many of these altcoins as well chilis included and so right now, obviously, on this daily chart, we want to be mindful that Were up against resistance and, depending on what bitcoin does will depend on whether or not we push up or pull down, unfortunately um. So what were going to do is were going to check the sentiment out so were going to use evidence dashboard and were going to take a look at the underlying data to see what this artificial intelligence is. Um, you know thinks is likely to happen here.
Um with with with chilis right, because ultimately um theres things that are happening in the crypto space theyre outside of your charts – and this is where avaya comes in theres. A link in the description below if youre not familiar, do sign up check it out. It is completely free and youll be able to understand a little bit more about information about your cryptocurrencies right, so were taking a look at chilis. We have a b1 rating overall um. We have an ami had ratio of a d okay. So, overall we have a b1 and then were going to go into the details, so the ami had ratio. Amihad is your liquidity and rating d is the worst rating that you can get so theres some problems with liquidity, but this is not uncommon. Many altcoins right now seem to be having a problem with liquidity. Okay and again that helps kind of suppress prices and some various different things that are going on in the space that could potentially stop people from purchasing cryptocurrency and as a result of that, then youre not going to see these price runs that you might be expecting To happen, and so id be quite cautious, so quite a few cryptocurrencies right now have got problems with liquidity, be that centralized exchanges or decentralized exchanges um. There are problems when its going to come to buying and selling chilis right now. Okay, so um im not aware of any exchanges that have come out publicly and said theres a problem with withdrawals or anything like that.
Um, but theres definitely problems with liquidity and for chilis right now and some of the other altcoins as well. So, just well worth noting that we also have a fear in greed index thats specific to chiles, not just the bitcoin general one that you usually see uh all over youtube. This one is um. You know specifically based on the data of chilis right. So what is that sentiment telling us well its actually, a b3 rating, a b3 rating is pretty neutral. It basically means that its not greedy, nor nor is it fearful right, so um theres pretty much equal amounts of buying and selling pressure at this point. Okay, so i mean it allows you to trade sideways more than anything else right, so knowing that our sentiment, isnt greedy and it isnt fearful means theres, no fomo, but its also in a panic setting either and so pretty good to kind of know where you are Sit in terms of that fear and greed index, specifically when youve got things like ami, had uh ratio issues or where you see bitcoin having some volatility, its good to make sure that youre not succumbing to any fear and as we come on down here, we do Have some interest in metrics as well? We have the sharp ratio. This is an a2. The sharp ratio is your risk reward ratio and, right now, being above the 50 day average. This is indicating. Actually, the rewards outweigh the risks when it comes to chiles, which is pretty good to know.
The profitability is an a1 rating, obviously at 25 000 percent. This is a fantastic project and thats seen significant gains for the same time. Period bitcoin has only gained 1 600, but yet chilis has gained 25 000. So obviously, i often have a problem when people refer to bitcoin and ethereum, saying that theyre the safer bets and one youre using the word bet – and this is investing its – not gambling, okay, so that i dont like that terminology at all um and two. Obviously, if you do your research um, i wouldnt say that you know investing in a a smaller altcoin versus uh. You know bitcoin is any more risky okay, because that research is absolutely key and absolutely vital, but also thats, going to allow you to find these gems up front. That will then allow you to see significantly more money flow into your portfolio because its not about the dollar value of a cryptocurrency, its about the percentage yield that youre going to be generating from that cryptocurrency right and so right now, chiles has outperformed a lot of Other altcoins, including bitcoin, ethereum, uh, cardano, uh harmony, one v chain; okay, so theres a whole host of cryptocurrencies that have also outperformed chilis, okay, um, but its also important to also acknowledge and not necessarily just buy into only buying bitcoin and only buying ethereum, because youre, Not going to get huge percentage yields from those particular cryptocurrencies, of course, dont just go throwing cash at anything and im, not owning a financial invite advisor, nor is chris and so its important that you do your own research, and i cannot stress that enough.
If you do your research up front, youre, going to find a cryptocurrency like chilis, that is an absolute gem undervalued and that is going to see thousands upon thousands of percent gains on your portfolio, which will have a significant effect on the actual dollar value of your Portfolio overall uh, whereas bitcoin will see maybe one thousand six hundred percent, maybe two thousand three thousand percent gains during an entire cycle. Um and obviously ethereum might see if youre lucky. Maybe ten thousand percent gains right, um, so its not knowing where to actually invest in and thats really what the bear market is for so um. If youve just joined because youre youre, you know finding a bit of a hype around cryptocurrencies in this particular ball cycle. Its great fantastic to have you here but manage your expectations and, of course, join us in the bear market, because its the bear market that you actually make the money. The the ball run, is all about managing your a expectations and b emotions. Okay round over lets, jump back to chilis um and what were going to do is were going to jump down into our hourly view right. So now we obviously know that the sentiment is reasonably neutral, its not fearful its, not greedy. We know theres some liquidity based problems, so were not expecting huge surges in price because the liquidity just isnt there for that um. So we obviously should then for expect um some different things to occur, and what we can see here on the hourly chart is a stochastic thats lowering down okay and were up against this resistance.
Weve traded, sideways, okay and weve traded sideways for quite some time. Not a lot of activity with chilis right now, right um, so the expectation here would be to basically take that next step to the upside as long as bitcoin doesnt pull back down, if bitcoin pulls us down, then do expect to pull back a little bit and Nothing too major um. Otherwise we should be looking to target this area here of about 41.3. It seems the most next uh, the most logical next step for chilis. Overall, okay, the star castic rsi, is nice and low, so that will allow us to grow up there, and that seems to be the next area of resistance on this hourly chart overall um long term. I think chiles is going to do really really well and i think its got huge potential to keep growing uh in the future as well. So overall, im not concerned about this one um, but do expect some volatility until the markets a little bit more confident in what is going on here in quarter four. Obviously i have some pretty interesting targets set out for bitcoin at 63. Uh. 67K. Sorry for the month of october, so if that comes in then do expect chilis to also move uh along with that guys im going to leave it there. Hopefully you have found this video useful and informative.