The priceline of aelf (ELF) / Bitcoin cryptocurrency has completed the formation of shark pattern and entered in potential reversal zone.
The stochastic is already oversold.
We have pivot 1st support just beneath the PRZ area which will push the price action back to hit the sell targets insha Allah.
I have defined below sell targets using Fibonacci sequence:
So, from recent price action I clearly see that aelfbtc bears tried to push price lower but couldn't. So from here I see opportunity to go into long position for 20-25%. Keep stop-loss around 740 area. RSI bullish and coin still on it's lows.
In a week we will reach the apex of this years long falling wedge pattern that suggests ELF, like many other altcoins might go on a bit of an upside adventure soon. this looks like it could be the type of pattern that drags on and on for a bit, nullifying both lines and making new ones all the time, until some day it finally completes and breaks out, but even if...
$ELF Broke from accumulation range under resistance at ~1650 sats and crossed it without too much issues
UCTS buy signal on the 6h (8% up)
A retest of ~1730 sats may happen prior reaching new local highs (use as entry)
Volume looks kinda weak for now so use tight SL
$ELF Reaching ATL BTC support zone at around 2200sats..
Last iteration with this level went pretty good an aiming for 10% quick gain seems fine as first target (if it pumps it pumps...)
Volume is super low for now but aim for an entry as lower as possible with a tight SL
ELF is forming a symmetrical triangle on the daily chart
RSI is rising
SBS indicator yet to signal BUY
BUY - BUY now or at the breakout
Targets are on the chart
Sl - -5% of Buy-in or below the last support
Always watch out for BTC volatility
Trading Signal - BUY
My buy price - 2428
My (Trailing) Profit Take - 2750 Activated (2% Trail deviation)
My Stop Loss - 2381
For both my Profit / Stop I use a so called Trailing Profit Take or Trailing Stop Loss to Maximize my ROI!
This is made possible by 3Commas.io A very easy to use solution for automated trading.
If you want to contribute please use my...
hey guys spotted this potential cup and handle formation on ELFBTC and I believe this worth looking into.
Kindly follow the suggested accumulation zone on the chart and always remember to apply stop loss according to your risk mitigation.
Level to watch for are:
POSSIBLE ENTRY ZONE
Possible Support LEVEL
Do know that I appreciate your effort and...