CGLDUSD/CELOUSD Double Bottom Breakout Incoming? for COINBASE:CGLDUSD by oftenbach

So I am the best purveyor of advice I
don’t myself listen to it seems, because
2 days before CELO’s–or as Coinbase
denominates it–CGLD’s breakout to
10.8, I drew up an unpublished chart
which illustrated my reasoning for
thinking that it was due for a double-up
at least very soon (basically it seemed
to me it was at the tail end of a massive
bullish pennant that had been building
up over a long period of time). The end
point was, of course, a guesstimate,
since you can never pinpoint exactly
where a breakout begins, just provide a
likely range.

Notably, I did not keep this in mind,

because, well, I invested in 940 of them

at $4.65 on August 28, and, as I

watched the price waver a bit the

following day, I got spooked, hands

turned papery, and liquidated my entire

holdings, selling half of them at break

even, a quarter for $4.20 and

everything else for BTC .

And of course, what do you know? On

August 30, my erstwhile CELO/ CGLD

holdings absolutely mooned, hitting an
all-time high of $11 on Coinbase Pro.

Double-bottoms are more touch-and-

go, so l may or may not stick to this

plan. Right now I am down, having

bought 7.5k at around $6.06. But

unless the price completely deserts the

curves you see forming the purple ‘W’,

with the gradually decreasing selling
volume and CELO’s recently solidly

established supports at 5.33 and 5.5 l

do project a return to at least $8 levels

in the next day (give or take a few


Happy trading, and I assume no

disclaimer is necessary to protect

myself from liability in the event this

trade idea fails for those of you reading

this who choose to open a long position

afterwards, because…DYOR.


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