Hi Guys
Fundamental analysis suggests Celo with their smart phone focus for encouraging mass adaption of crypto could be one to watch, right now it has seen some serious gains, gaining over 167.8% compared to bitcoin in the last few days. It has lost some of those gains but I believe we are just at the beginning of what could be an even bigger bullish run.
Technical analysis on the CELO/BTC chart suggests we are seeing some serious interest in the form of volume, bullish price surges have been noticeably higher than bearish prices drops in the current parallel channel Celo has been forming, we've retested the upper boundary of the channel 5 times and only twice on the lower boundary.
If we break the upper boundary convincingly their are a few resistance points to look out for but the closest strong resistance would be between 0.000197 to 0.000245. These points may be a good point to take profit or convert some of those gains to bitcoin. Of course, depending on your risk management, there are higher resistance points that Celo could reach which would mean even greater gains: 0.00029; 0.00036; 0.00049.
As with all alt coins, monitor closely and be prepared for big swings up and down; I think this could be a big winner, I also think that it is very overlooked, which is the best point to buy, when everyone starts talking about it then you're probably close to a topping out, maybe not a full crash but a strong correction.
What do you guys think, is this just a brief pump or dump or has this got fundamental value that is just recently being recognized in the chart? I've been keeping an eye on Celo before it's big pump and the fundamentals say to me this run is not over, not by a long shot, would love to hear your comments..
*Disclaimer: Not financial advice, please do your own research before investing.
Fundamental analysis suggests Celo with their smart phone focus for encouraging mass adaption of crypto could be one to watch, right now it has seen some serious gains, gaining over 167.8% compared to bitcoin in the last few days. It has lost some of those gains but I believe we are just at the beginning of what could be an even bigger bullish run.
Technical analysis on the CELO/BTC chart suggests we are seeing some serious interest in the form of volume, bullish price surges have been noticeably higher than bearish prices drops in the current parallel channel Celo has been forming, we've retested the upper boundary of the channel 5 times and only twice on the lower boundary.
If we break the upper boundary convincingly their are a few resistance points to look out for but the closest strong resistance would be between 0.000197 to 0.000245. These points may be a good point to take profit or convert some of those gains to bitcoin. Of course, depending on your risk management, there are higher resistance points that Celo could reach which would mean even greater gains: 0.00029; 0.00036; 0.00049.
As with all alt coins, monitor closely and be prepared for big swings up and down; I think this could be a big winner, I also think that it is very overlooked, which is the best point to buy, when everyone starts talking about it then you're probably close to a topping out, maybe not a full crash but a strong correction.
What do you guys think, is this just a brief pump or dump or has this got fundamental value that is just recently being recognized in the chart? I've been keeping an eye on Celo before it's big pump and the fundamentals say to me this run is not over, not by a long shot, would love to hear your comments..
*Disclaimer: Not financial advice, please do your own research before investing.
Comment:
Hi Guys
We are incredibly close to the support line of the parallel channel. Will the price hold and rebound or stagnate? Fundamentals-wise, there's been more positive news with the Celo-powered Valora mobile app securing 20 million in venture capitalist funding. What do you guys think, bullish or bearish on Celo?
*Disclaimer: Not financial advice, please do your own research before investing.
We are incredibly close to the support line of the parallel channel. Will the price hold and rebound or stagnate? Fundamentals-wise, there's been more positive news with the Celo-powered Valora mobile app securing 20 million in venture capitalist funding. What do you guys think, bullish or bearish on Celo?
*Disclaimer: Not financial advice, please do your own research before investing.
I've also made another idea regarding this, it's called "Celo is about to breakout! CELO/BTC Daily Chart.". We are in the middle of the range, the drop was more of a slow bleed, much more enthusiasm on the way up, you can see this by volume and price spread, i.e the amount of sellers decreases and the price is tight as it drops, however on the way up the amount of buyers increase and the price swings are large. These are very good signs of bullish sentiment. I do not think it will be too long before the upper barrier of this channel breaks and when it does expect a big price swing upwards. Would love to hear your thoughts and comments!
*Disclaimer: Not financial advice, please do your own research before investing.