This site is situated along the left (northwest) wall of the bay in front of the cliff-face. The site got its name from a long chain and anchor that is disappearing into the depth. Entrance is not easy and a long hike is required to the starting point where you can enter the water. Even then it takes about 30 minutes before the chain and anchor can be reached.
If the pace is too slow then you will not reach the chain and anchor before you reach half tank.
There is a lush underwater garden of sea fans and gorgonians at a shallow depth and it's certainly worthwhile to spend some time in this garden. This dive site is more easily reached by boat, but it is possible to reach from the shore.
The dive site is on the western side of Caracas Bay. If diving from the shore take a long walk along the cliff almost as far as possible to reach the sandy patch where you can enter the water. From there swim along the drop off (very steep, almost vertical) for about 25 minutes before you reach the chain and anchor. The chain is nicely covered with sponges and disappears out of sight into the depth. Swim and follow the chain upward till about 12 meters. At that depth start your return leg of the dive.
At that depth you will see a lot of soft coral which gives the impression of a large garden with plants swaying in the wind. Keep monitoring the air left in your tank.
Dense coral growth hides the chain and anchor that keeps on going forever. (CTB approved dive guide is recommended).