ELF/BTC { AELF } - BULLISH SETUP Long

aelf / BitcoinBinance

Description

⋅ Aug 23, 2021 6:06 AM

ANALYSIS 🔎
- ELF/BTC has been consolidating in a symmetrical triangle pattern.
- Price is testing the symmetrical triangle's inclined resistance as expected from my previous analysis.
- There's a breakout potential.

BUY ENTRY ⬆️
- Market entry: current market price.
- Stop limit entry: breakout above the symmetrical triangle's inclined resistance.
- Limit entry: test of the symmetrical triangle's inclined support.

TARGETS 🎯
- Horizontal resistance level (@0.00000823).
- Horizontal resistance level (@0.00000911).
- Fibonacci extension levels.

SETUP INVALIDATION ❌
- Breakdown below the ascending triangle's inclined support.