Hey guys,
As you asked about CELRUSDT, based on the chart, price reached a major resistance area an actually there is nothing to do right now because we have 2 different scenario at the moment:
1. rejection of price from this level (or even a false breakout):
It may lead the price to drop on specified areas. (probably 0.043)
2. Breaking this area successfully:
We would wait for the pull back and the next target would be 0.095
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But let's see what's happening on the chart right now:
1. An uptrend channel is broken to the upside (Bullish)
2. Price reached a major resistance area + 0.618 Fibonacci (Bearish)
3. We have a divergence on RSI(14) (Bearish)
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So comparing these 3 states, I have bearish bias, but still we need more proofs.
It was my view about the market and I would be thankful if you share your idea about this post, Bullish or Bearish? and Why?
Good Luck
As you asked about CELRUSDT, based on the chart, price reached a major resistance area an actually there is nothing to do right now because we have 2 different scenario at the moment:
1. rejection of price from this level (or even a false breakout):
It may lead the price to drop on specified areas. (probably 0.043)
2. Breaking this area successfully:
We would wait for the pull back and the next target would be 0.095
-----------------------------------------------------------------------------
But let's see what's happening on the chart right now:
1. An uptrend channel is broken to the upside (Bullish)
2. Price reached a major resistance area + 0.618 Fibonacci (Bearish)
3. We have a divergence on RSI(14) (Bearish)
---------------------------------------------------------------------------
So comparing these 3 states, I have bearish bias, but still we need more proofs.
It was my view about the market and I would be thankful if you share your idea about this post, Bullish or Bearish? and Why?
Good Luck