Long

Updated

ELF to 1$

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)

Note

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

Note

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

Note

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

Note

The weekly chart against ETH shows some intriguing developments.

Note

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.

Note

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

Note

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

And

Note

$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.

Note

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

Note

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

Note

Still bullish

Note

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

minorcontrastDetour

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

minorcontrastDetour