Long

ELF to 1$

Updated

On the 1-day chart price action is trading near long-term resistance, in case of a breakout the target mentioned above becomes valid(potential top could be a little bit higher or lower, also there are bullish divergencies on the 4-hour chart on multiple indicators)

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Severely oversold on the daily, needs to break 19 cents resistance in order to test the big trendline.

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Bullish divergencies on the 1-week chart on several indicators.

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BB are getting pretty tight on the weekly, could breakout soon.

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The weekly chart against ETH shows some intriguing developments.

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Here is a very simple setup.
I do not see the need for anything else, since the trend is still in its early stages in my opinion.

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I corrected it a bit.
Note what's happening with the VFI.

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So, basically, it will either happen very soon or not at all.

And

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$1 resistance is the neckline on the BTC pair. If it breaks, the pump could be huge.

Trade closed: target reached

It's done, for now.

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I did not expect it to correct so quickly. Technically speaking, it's extremely bullish.

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Consolidation is a completely normal behavior on such occasions.
It needs to break the local resistance at 1725 to validate the reversal.

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Still bullish

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The difference is palpable: there was a trendline back in 2021, with such divergence it was not able to pass it's 2018 consolidation.
No trendline now and no divergence.

First time ever above the cloud

Trade closed: stop reached

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