CELO - Short at 2.618

CELO is having an impulsive run against the BTC grain. Price seems to be consolidating in this area to form a flat wave 4 which would suggest another wave up will ensue to $6.7 fib 2.618 which also finds a strong point of prior resistance. This can be a home run short if price reaches target. There may be temporary overshoot.

NOT ADVICE

Thanks to zbooyo for the chart.

If you have an interesting chart like this do feel free to bring it to my attention.

Kommentera:

Kommentera:

Looking at /BTC could break down right here. This is a gamblers trade.

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I've opened a small short here. Think this is the top. Not advice.

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This is either in a complex top or continuation pattern, either way i've exited for now.

Kommentera:

CELO appears to be all out of bounces. Still a chance of a minor 0.5 bounce, but most likely it will break to the downside and be trundling down the hill into the abyss soon enough.