$CELO
Bearish breakdown confirmed. Price has sliced below the 25 MA at 0.09175 and is now resting directly on the 7 MA at 0.08919, with momentum clearly tilted to the downside. The 99 MA at 0.08590 is the next magnet below.
This is a lower high structure following the rejection from 0.09800. The 25 MA flattening out and turning into resistance tells you buyers have lost the grip. Every bounce over the last two weeks has been sold, and the current candle is making new local lows. No signs of a bottom yet.
Support is the 0.08800 zone, with the real target being the 99 MA around 0.08590. Resistance overhead is firm at 0.09000 and the 25 MA at 0.09175. Until that zone is reclaimed, shorts have control.
- Entry Zone: 0.09000 – 0.09150 (on any weak retest of the broken 25 MA)
- TP1: 0.08800
- TP2: 0.08590
- TP3: 0.08399
- Stop-Loss: 0.09250 (above 25 MA and local swing high)
Do not catch the knife here. Either short the retest or stay flat. Trend is down until proven otherwise.
#CELO #WriteToEarnUpgrade
Bearish breakdown confirmed. Price has sliced below the 25 MA at 0.09175 and is now resting directly on the 7 MA at 0.08919, with momentum clearly tilted to the downside. The 99 MA at 0.08590 is the next magnet below.
This is a lower high structure following the rejection from 0.09800. The 25 MA flattening out and turning into resistance tells you buyers have lost the grip. Every bounce over the last two weeks has been sold, and the current candle is making new local lows. No signs of a bottom yet.
Support is the 0.08800 zone, with the real target being the 99 MA around 0.08590. Resistance overhead is firm at 0.09000 and the 25 MA at 0.09175. Until that zone is reclaimed, shorts have control.
- Entry Zone: 0.09000 – 0.09150 (on any weak retest of the broken 25 MA)
- TP1: 0.08800
- TP2: 0.08590
- TP3: 0.08399
- Stop-Loss: 0.09250 (above 25 MA and local swing high)
Do not catch the knife here. Either short the retest or stay flat. Trend is down until proven otherwise.
#CELO #WriteToEarnUpgrade