On our previous idea regarding $CEL and the potential short squeeze made by retail traders we said that if we broke the consolidating pattern, we would see a breakout and volatile price action. And that's exactly what happened. $CEL broke out hitting $1.19. As traders now see squeeze confirmation, we need to retest the blue previous resistance line to have strength for the price action to drive higher. As more retail traders pile in we will most likely see a retest then the downwards channel retest which will define the crash or massive rally for $CEL. On the other hand, if we see too many traders take profits at these levels we will see $CEL follows its concurrent downtrend. Accumulation levels are showing that $CEL is being bought up as if it was at around $6.30 which means that we are looking at more bullish price action.
Stay Safe and be Smart traders.
Stay Safe and be Smart traders.