Overview
- Overall, could have an ascending triangle or triple top pattern occurring and whatever pattern it is will determine future price bounce. Let's start from the top!
Price Chart
- If price breaks above the 20MA(green) and 50MA(yellow), breakout could occur. Especially if the 20MA can get above the 50MA
- Both patterns are marked on the chart:
*If triple bottom, price could bounce off the resistance and return back to support.
*If ascending triangle, price could continue past resistance to retest the ATH
- Good to see the 200MA near the support line(red)
- Best entry would be when price is retesting support with stop loss set at second to last low or 200MA support
- As always, if BTC dumps could see CGLD break support. However, long-term higher prices could still be in play
RSI
- Making a symmetrical triangle pattern that usually results in a breakout
- Plenty of room to grow if breakout does occur
Stoch
- Showing a nice rising structure which could indicate CGLD has strong momentum that has the potential to retest ATH
- Other coins had this rising structure before they popped. CGLD could just be lagging behind
BTC NOW
- Overall could see short-term lower prices. Text boxes display info
Extra Info
- Learn about CGLD here: celo.org/
- CGLD VOLUME: coinmarketcap.com/currencies/celo/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful trading strategies 🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
- Been working on a COMPLETE trading guide so stick around for when that'll be released! Currently has:
* OVER 70+ Basic/Advanced Trading Terms
* Trading Concepts to Help Jumpstart Your Trading For Any Experience Level
* TONS of Trading Patterns with Homemade Examples/Videos
* HUGE Range of Indicators That'll Teach You the Inner Workings AND How to Use Them to Boost Your Profits
-Happy Trading
MoneyGrind
- Overall, could have an ascending triangle or triple top pattern occurring and whatever pattern it is will determine future price bounce. Let's start from the top!
Price Chart
- If price breaks above the 20MA(green) and 50MA(yellow), breakout could occur. Especially if the 20MA can get above the 50MA
- Both patterns are marked on the chart:
*If triple bottom, price could bounce off the resistance and return back to support.
*If ascending triangle, price could continue past resistance to retest the ATH
- Good to see the 200MA near the support line(red)
- Best entry would be when price is retesting support with stop loss set at second to last low or 200MA support
- As always, if BTC dumps could see CGLD break support. However, long-term higher prices could still be in play
RSI
- Making a symmetrical triangle pattern that usually results in a breakout
- Plenty of room to grow if breakout does occur
Stoch
- Showing a nice rising structure which could indicate CGLD has strong momentum that has the potential to retest ATH
- Other coins had this rising structure before they popped. CGLD could just be lagging behind
BTC NOW
Extra Info
- Learn about CGLD here: celo.org/
- CGLD VOLUME: coinmarketcap.com/currencies/celo/
If you enjoyed this analysis or learned something new, please LIKE this idea 👍
FOLLOW for important updates for this coin and helpful trading strategies 🏆
Would also like to know your thoughts! Remember this is not financial advice, however, it is an overview of what I am seeing in this coin's price action.
- Been working on a COMPLETE trading guide so stick around for when that'll be released! Currently has:
* OVER 70+ Basic/Advanced Trading Terms
* Trading Concepts to Help Jumpstart Your Trading For Any Experience Level
* TONS of Trading Patterns with Homemade Examples/Videos
* HUGE Range of Indicators That'll Teach You the Inner Workings AND How to Use Them to Boost Your Profits
-Happy Trading
MoneyGrind
- Good luck traders