Celsius: Important levels to keep an eye on.
Hello all. Despite the 100% crash in the price of the celsius network, it seems there is still hope for recovery. Here is what I think.
Looking on the weekly timeframe we see a formation of descending channel and and the top of the channel sitting at $1.76.
if we take a closer look on the candlestick formations, we had four consecutive bullish candles which haas formed a possible ascending channel on both daily and weekly timeframes. (white dotted lines).
If the price of celsius manages to close above the $1 mark on the weekly timeframe, and we manage to brake above the $1.76 mark, then the price of celsius will reach the next level of resistance which sits at $3.379. This will be a 245% move towards the upside from the current point.
Next two levels ($4.2 & $8) of resistances together with their percentage gains are depicted on the chart.
So should you buy ? Here is what I think. If bitcoin falls to $10,000 then it will be over for celsius, and if magically bitcoin hits the $30,000 mark then I see no problem why celsius will not shine.
Research about how these two cryptos are connected, and of course stay on top of all the news.
Thanks for reading, and stay safe. Enjoy.
Looking on the weekly timeframe we see a formation of descending channel and and the top of the channel sitting at $1.76.
if we take a closer look on the candlestick formations, we had four consecutive bullish candles which haas formed a possible ascending channel on both daily and weekly timeframes. (white dotted lines).
If the price of celsius manages to close above the $1 mark on the weekly timeframe, and we manage to brake above the $1.76 mark, then the price of celsius will reach the next level of resistance which sits at $3.379. This will be a 245% move towards the upside from the current point.
Next two levels ($4.2 & $8) of resistances together with their percentage gains are depicted on the chart.
So should you buy ? Here is what I think. If bitcoin falls to $10,000 then it will be over for celsius, and if magically bitcoin hits the $30,000 mark then I see no problem why celsius will not shine.
Research about how these two cryptos are connected, and of course stay on top of all the news.
Thanks for reading, and stay safe. Enjoy.
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