$ELA formed cup and broke out the pivot resistance on last Friday. It couldn't close above one day before candle though. RSI hit the resistance back intraday so it may form a handle.
Descending Scallop, this is a bullish reversal pattern, which seems has already begun, with the likely formation of a bullflag at the bottom of the scallop, descending scallops have a high success rate in crypto markets based on my previous analyses! First Elastos post!
ELA seems to bottomed and now on a bullish trend.
3 Fibonacci grids drawned : 1 : Fibonacci retracement from November high to 15 February swing low 2 : Fibonacci extension from 15 February low to 9 March swing high 3 : Fibonacci extension from 15 February low to 3 April swing high Confluences provides 4 very interesting resistance / support levels (if confirmed) to watch for ((x) indicates above...
Check the daily chart, if immidiate resistance between ~4.1-4.3 is breached then rise to 6 USD is possible. Limited volume has occurred between ~4-6 USD which will be like driving a warm knife through butter for ELA.
Pair: ELA/BTC Exchange: Huobi Trade Duration: Long Risk: Moderate Signal Strength: High Introduction Elastos aims to create a new kind of Internet, powered by blockchain technology. On this new Internet, people will be able to own digital assets and generate wealth from them. Today, there is a seemingly infinite supply of digital books, movies,...
Elastos entered right now its market structure, I would like it to see it consolidating here for a couple days before it breakes out upwards. Entry a bit below the market structure and expecting it will wick into it. When we start closing (on a daily) below the market structure I would probably look to get out of this trade at break even.
i dont think we will see lows of $1 hopefully we make a move for $3 first we need to smash through $2.00