Celsius network - trend reversal

On the above 2-day chart price action has corrected 70% since early June. A number of reasons now exist to be bullish, including:

1) The ‘incredible buy’ signal.

2) Price action breaks out of price action resistance (red line) and RSI resistance.

3) Now I’m aware Bittrex is not exactly a high volume exchange with the majority of the dollar volume over on FTX, however no BTC pair exists with the same history. So I made one (below) using the dollar. On the 1-day CEL/BTC FTX chart below the same breakout in price action can be seen together with confirmed support on the 50-day SMA. Wonderful.

4) On the same high volume chart price action prints hidden bullish divergence. 9 oscillators are actually printing this divergence. The Stochastic RSI prints it most clearly, just as before following support on the 50-day SMA (blue line) back in Apill. Look left ;)

>> Hidden divergences are a favourite of mine. Why? Because with regular divergence you cannot have higher lows in price action, thereby offering less strength in the divergence. Hidden bullish divergence + higher lows in price action = awesome.

5) On the weekly chart (bottom) price action (at this time) has broken out of a falling wedge pattern that was first created in late 2020. A Bullish engulfing candle is currently printing. Look left.

6) On the same weekly chart Stochastic RSI has just crossed up 40 with RSI crossing up 40. Those instants are circled in purple. Look left and compare with price action, it is not something you want to ignore.

Is it possible price action falls further? Sure.

Is it probable? No.

With the falling wedge breakout a target can be estimated, 36k sats or 250%.

Good luck!

WW

1-day CEL/BTC on FTX with hidden bullish divergence

Weekly chart

Trade active:

Just noticed something on the monthly chart. For sure there's 24 hours to go... but if the monthly candle closes as is now, oh yes ;)

That's a hammer candle. A monthly hammer candle. Infinitely more powerful than anything you'll see on the daily or weekly chart.

Trade closed manually:

Two significant developments on the 10-day chart below that cannot allow this trade to continue:

1) Broken market structure.

2) 21-week EMA crosses down the 50-week EMA confirming bear market. It was a bull market when they crossed up, see purple circles.

If you’re at loss, kill it. Move on.

If you’re in gain, save it. Move on.