Watch for the break of this important resistance line and a potential all time high.
If I had a lot of imagination I would also see a cup and handle but I'm not sure.
$NVEE has exactly the same chart
Whit almost a 60% drop the past month and making a nice support ! If it can continue bouncing off the support , we will get a major move upwards ! It seems to make an double bottom on the support, and we know what happens next ! :D
FOLLOW AND LIKE FOR MORE !
- ELF/BTC is consolidating in a symmetrical triangle pattern.
- Price is testing the symmetrical triangle's inclined support.
- There's an ongoing double bottom formation.
- A double bottom is a bullish reversal pattern.
BUY ENTRY ⬆️
- Aggressive entry: current market price.
- Conservative entry: breakout above the double bottom neckline...
Possible bull flag with catalyst incoming. This pattern used to work during the bull market.. will it work again? Possibile earnings run up for ELF BEAUTY, hopefully they should show big revenues growth this year.
PT 1= 28 $
P2 2= 30 $
Stop loss 5%