CELO / TetherUSLong
CELO/USDT - Long potential due to trend reversal
CELO/USDT pair has formed a double bottom on the 1H timeframe.
Even though the pattern might not look reliable at first, a key thing to note is the RSI divergence
While the price has formed a lower low, the RSI has moved upwards. This indicates that the bulls are gaining momentum
The price has broken the neckline so the pattern looks successful. The ATR value is low which indicates that volatility is going to increase
Look to time your entry around support using RSI for momentum based swing trades
Even though the pattern might not look reliable at first, a key thing to note is the RSI divergence
While the price has formed a lower low, the RSI has moved upwards. This indicates that the bulls are gaining momentum
The price has broken the neckline so the pattern looks successful. The ATR value is low which indicates that volatility is going to increase
Look to time your entry around support using RSI for momentum based swing trades
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.