CELR.USDT (Y20.P4.E1).TA.Macro structure

Hi All,

Planning ahead phase:
After I looking at ADA, I came across this as its bouncing today to see why, and it makes sense with the Bullish div. playing out.
So I thought, what's the story on this coin CELER NETWORK. Hence my TA on the structure.

MY OBSERVATIONS and THOUGHTS:
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Daily gives you the trading strategy and with the 8 HRLY or 12HRLY, I find it easier to see the details (entry points) on the chart.
> Indicators show me a bounce here due to the Bullish div. on the RSI, double bottom.
> We are having the ABC correction playing out, targeting the 0.5 or 0.382 fib level, really depends how deep BTC correction is as well.
FYI, I don't expect a deep correction with the SP500 or BTC so maybe the 0.5 fib level is our target here.
> On the way up, we have 3 points of reference on the bottom trend line. The 2 bottom points is where the target is based on the BARR or Inverted BARR approach.
> As per chart, I'm assuming then the downward trajectory is some type of Wedge and soon we will see the top of the trend line of this wedge.
> Note how we passed the 0.618 level so this will be a strong resistance hence why I have placed the trend line and potential price action accordingly.
> On the chart, I envision the 0.5 level to be hit with potential dips in the orange section and if its was to be a deeper pullback, then a bottom formation taking place in the orange section;

Indicators:
> On the 8 hrly, we have Phoeix with the green rsi crossing over the red, in sync with the RSI bullish div.
> On the daily, we have no sign of a reversal any time soon based on the Phoeix indicator. Still downward pressure on the daily.




8 HRLY chart:

DAILY Chart:

3 Day chart: Phoeix downward pressure still there

Bình luận:

update on chart...still looking like an accumulation area. Buy the dip.