CELOUSDT (CELO) - BULLISH SETUP

٢ مايو ٢٠٢١

ANALYSIS 🔎
- CELOUSDT has been on a mid-term uptrend.
- The uptrend is supported by the ascending trendline support (ATS).
- Price tested the ascending trendline support.
- Price action is printing a pennant (P) pattern.
- A pennant pattern is a trend continuation pattern.
- A bullish continuation pattern in this case.
- There's a breakout potential.

BUY ENTRY ⬆️
- Stop limit entry : breakout above the pennant pattern's inclined resistance.
- Limit entry : test of the pennant pattern's inclined support.
- Market entry : current market price (CMP).

TARGETS 🎯
- Horizontal resistance level (R1).
- Horizontal resistance level (R2).
- Horizontal resistance level (R3).
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the pennant pattern's inclined support and the horizontal support level (S1).