Had this coin in plans since end of August, but its accumulation period last much longer than expected, although 8% profit was already collected and trade closed. Now it is time to open it again. Expecting to see it pullback a little once again and then finally move towards marked targets.
Strong BUY as previous daily resistance flipped support of 3914 just confirmed yesterday to be strong current support as BTC move up didn't push price below that level on a daily candle close.
Entry - Under 4200
TP1 - 4640
TP2 - 5813
TP3 - 6539
TP4 - 7712
SL - 3614-3914 dependent on Hold period
Recommended Hold period - 2 weeks to 1 month with SL at 3614....
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.
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:
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