CELO - Bullish divergence

On the above 2-day chart price action has corrected 90% since the sell signal last August. A number of reasons now exist to be bullish, including:

1) The ‘incredible buy’ signal.

2) Regular bullish divergence. Multiple oscillators are printing positive divergence with price action. A very similar picture on the 2-day BTC pair (below).

3) RSI resistance breakout.

4) Price action is now testing a trend line of significant historical support and resistance.

Is it possible for price action to fall further? For sure.

Is it probable? Very unlikely.

Ww

Type: trade
Risk: <=6% of portfolio
Timeframe: 3 - 8 month
Return: Somewhere between $10-15

BTC pair

Comment:

PS: This one is on the 'what if' list.