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Paraman666
Mar 20, 2020 5:21 PM

ELF/BTC - super bullish altcoin Long

aelf / BitcoinBinance

Description

This chart looks really nice, we got nice 5 waves to the upside and now price is moving moreless sideways for 36 days, so uptrend should continue. I think, that bottom of the correction isn´t set yet, we always had only 3 waves to the upside (this means "x" - failure) - we usually have one or two failures (WXY or WXYXZ correction ) before the bottom of the correction is set. We have very nice trendline from the top and after we get above that trendline (and closed above that), I think uptrend will continue.

Comment


Damn, hard to tell, if ELF already bottomed out, too many mixed signals. We got above that long trendline with good volume, but the rejection was pretty big and we didn´t see any follow through from bulls, so hard to tell. Bullish level is obvious, but personaly I think we will see last leg to the downside (turquoise line) and after that we will see 5 waves up. But the bottom could easily be set.
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