$CELO gave the kind of candle that traps impatient traders.
The price wicked all the way to 0.105, but it failed to hold that level. Now CELO is back near 0.068, and this is where the real test starts.
I am not treating that wick as strength yet.
A strong move should hold its breakout area. If CELO holds the 0.064 to 0.068 zone, buyers still have a chance to build another move. But if this area breaks, the 0.056 support can come back into play fast.
This is why I do not chase the first green candle.
The wick shows excitement.
The retest shows control.
For me, CELO is not a blind buy here. It is a patience test.
Would you buy this retest, or wait for CELO to prove strength first?
Not financial advice. Just my chart observation.
#CELO #Binance #CryptoTrading #Altcoins
The price wicked all the way to 0.105, but it failed to hold that level. Now CELO is back near 0.068, and this is where the real test starts.
I am not treating that wick as strength yet.
A strong move should hold its breakout area. If CELO holds the 0.064 to 0.068 zone, buyers still have a chance to build another move. But if this area breaks, the 0.056 support can come back into play fast.
This is why I do not chase the first green candle.
The wick shows excitement.
The retest shows control.
For me, CELO is not a blind buy here. It is a patience test.
Would you buy this retest, or wait for CELO to prove strength first?
Not financial advice. Just my chart observation.
#CELO #Binance #CryptoTrading #Altcoins