Jordan analyzes a bullish setup for Celsius (CEL) token, identifying a descending triangle pattern that rejected a downside breakout. He sees an aggressive buy opportunity near the triangle's lower boundary, expecting an upward breakout.
Chapters
trading setup coming from the Traders Academy Club. This is Jordan, I'm the chief, uh, trader in the TAC, guys, and today I would like to bring to your attention one crypto opportunity which I've been eyeballing for some time, and I think now during the most recent push to the downside, that could actually turn out to be a decent bullish opportunity. Uh, we're talking about Celsius, which is a relatively new company in the crypto space. They're providing interest rate and, um, loans and all this kind of the new DeFi, uh, team in the crypto space. One of the companies out there, if you're interested, you can read more about them in order to get yourself familiar with what they're doing if you truly believe in, in the company, right? Or not. But in terms of the technicals, which is my stronger suit here, um, we can see something very, very simple in terms of a structure, right? After the open, we saw this amazing push to the upside, and currently we are consolidating, right? It even gets simpler Um, once we say that we're expecting this to, to continue higher after a potential breakout. And as I said, we might have an interesting aggressive opportunity here from the bottom of this, um, triangle, which the price now tried to go ahead and break to the downside, rejected here as we can see. But overall, yeah, that would be the, the plan. So when it comes to ranges, I'm usually doing 2 things Either I'm trading the breakout or I'm trading the bottom of it, right? In this case, we're talking about buys here. Since we have a direction which is up, we want to focus only on breakouts to the upside or buying the bottom of this channel. Well, sorry, not channel. In this case, we have a triangle. A range is what I mean. So that's about it. If you have any questions, drop a comment below and I'll be happy to reply. Have a good one.