CELSIUS, possible trajectory!
Updated
This is a potential CEL trajectory for the next couple of months. If the rising channel is valid, we should be seeing some nice gains, regardless of the move so far! Buckle up! Price discovery!
Note
Just an update (Jan 11th);As we can see, the price is now testing what was a long-standing resistance line (dark green). This is completely normal. As long as the channel is not broken and the price falls outside of the blue line, everything is still pretty kosher.
This consolidation is to be regarded as quite necessary, as those who do not wish to hold are selling or reducing their positions after a wild ride. This doesn't mean the ride is over.
Worst case scenario is that the price keeps consolidating another month before it hits the support on both the green and blue line.
Note
CEL update, as indicated in the chart, the channel is broken unless the price recuperates and closes above the support.
The price is most likely to drop further and according to the volume profile, the price could reach as low as $3. The accumulation area is set between $3-$3,70 atm and should provide ample opportunity for "cheap" entry for those who were waiting for better entry.
Note
Another update:It is as I suspected after the price broke below the main channel support.
The channels are now acting as resistances.
Note
It's been a while since I was here last time and CEL has started creating a different pattern after all the other attempts have failed. It would seem the price is creating one long consolidation pattern before what could seem like a breakout around May (given that the price continues to consolidate within the channel:
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