$CELH
Added 2024-06-17 11:46:19 +0000 UTC$CELH continues to sink and has cleanly lost its 0.38 Fib which would have been a shallow ABC correction if the price held at this level.
Now we look to the 0.5 Fib to see if support can be found at $50.50.
This would be an ideal level to find support and complete Wave C.
We can also see that the RSI is deep into the oversold territory, so if the price makes it to the 0.5 Fib, this could signal that the bottom is in.
$CELH would then be 50% lower then it was in the middle of May, yes the cult following drink has lost 50% value, which seemed imaginable but every chart moves the same way, they all post an ABC correction after strong impulse moves.
