CELO Cup & Handle ☕Celo is forming Cup & Handle pattern and seems to be ready to break the neckline. If it really does then there would be a chance for run to 1.385 and even higher. Have set BUY STOP-LIMIT order @ 0.892 to catch the potential breakout which is agressive approach but that's just me. One can rather wait for break confirmation and buy the potential pullback to the neckline (backtest). S/R zones along the way: 0.98-0.99 and 1.16-1.20. Wise idea to secure some profit at the higher zone (TARGET1) and let the rest run to the C&H projection (TARGET2). There is also legacy uptrendline (orange) which could act as resistance and then flip to support.
ENTRY : local high @ 0.892
STOPLOSS (SL) : local low @ 0.682
TARGETS (TP) : TARGET1 - resistance @ 1.155 | TARGET2 - Cup & Handle measured move @ 1.385
REWARD RISK RATIO (RRR) : TARGET1 - 1.4 | TARGET2 - 2.65
INVALIDATION : when SL level hit
This thesis is supported by the idea down below and if BTC is really going to 27500 we should see nice pumps on alts as well.
Check my other stuff in related ideas.
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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.
