Celo is about to breakout! CELO/BTC Daily Chart.

I've labelled the specific points that could represent a Wyckoff accumulation patttern. The 5 phases represent:

(A) controlling the downtrend to a stop
(B) buying and selling to create a trading range in order to accumulate as much as possible
(C) testing supply to conclude when accumulation has been maximized
(D) transitioning to an uptrend
(E) executing the breakout to a successful uptrend

What do you guys think would love to hear your comments?

DISCLAIMER: Not professional advice, just opinion and should not be used to make investment decisions.

Comment:

Hi Guys

So far we've seen a strong pullback, further than I expected, however it did land on the 61.8 retracement point which is a strong buy point for investors. Since then we've had a significant jump start upwards.

A big drop after such a huge leap is not too surprising considering CELO/BTC value almost tripled in 5 days. At this point short-term profit taking can be expected aswell as an engineered shakeout of retail investors.

It may take a number of days or weeks for this transitional stage to end but when it does the breakout phase will be swift and explosive; expect many attempts to shake you out.

TARGETS
There are a number of targets to aim for and I think closely monitoring the situation is the best way. However I would say a decent target that will give you a significant ROI would be around 0.00021. You can take half and leave half in and then continue to monitor or whatever methodology works best for you. Thank you so much for reading this and would love to hear your thoughts and comments.

DISCLAIMER: Not professional advice, just opinion and should not be used to make investment decisions.