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ELFBTC

ELFBTC - potential break outWe are look at a potential break out of the symmetrical triangle. If the price breaks out of the triangle, we can reasonably calculate it to enter the 23000 sat area. This is based upon the length of the beginning of the triangle. The volume is declining on this triangle, which is a good sign. However, we need the volume to spike on the breakout in order to confirm an actual breakout to the 23000 area will occur. The resistance at the 16688 level is strong and has been retested several times, so I doubt it will go below this level. However, I would play safe and place stops at the 16000 area. It is possible that price levels fall towards the downtrend, but by the way that ELF has been acting, I think it wants to go up.
by RLUM18
4
ELFBTC - The future is coming?I have been following ELF for a while, and it is a neat project. I recommend everyone to read more about the fundamentals to compliment the technical. When trading in the crypto arena, eyes must not develop tunnel vision, but instead, see the bigger picture. With the markets so volatile, there is no such thing as a guarantee. The person who is the most uninformed will be the most broke. Fundamentals: In short and without being esoteric about the technology, AElf seeks to innovate the current "archaic" (ironic) blockchain technology. Although it may sound cliche in the blockchain world, their project is "unique" in that it attempts to solve issues that blockchain technology is facing rather than depending on the current blockchain technology as part of their overall startup idea. The issues that current blockchain technology is slow speed, high cost, a limited scalability, much akin to Bitcoin's ongoing issues preventing it from being utilized as an everyday currency. AElf's goal is to streamline things through their "blockchain system" to optimize the performance. AElf will run nodes on clusters. It will allow assigned transactions to different groups based on mutex of the transactions. Transactions within a group will be processed in linear sequence, while all groups will be processed simultaneously. The assigned node groups are elected by AELF token holders based on the node’s processing efficiency as well as their profitability. The interesting thing about this is the "voting system" which will allow AELF to be entirely community driven, decentralized, and allow community members to elect mining nodes, features, and important decisions. I have not seen any other project like this, other than arguably EOS, but that is a matter for a separate topic. Here is a link to their development roadmap which I like to use to track their project and know approximately when to keep an open eye for price movement: github.com Here is a page for updates on their project: medium.com Technicals: Elf had a steady run up earlier last week making it to its ATH. This week, the profit makers are taking their share. Accordingly, we can see a consolidation of prices under the 1H time frame. The prices have remained steady within a channel between 16688 and 19481 since it fell from the ATH. Judging by the 1H chart, i predict that ELF will bounce off the heavy support line at 16688 (green horizontal line). The resistance will be at three stages (18500, 19510, and 21900) before we start talking about the new ATH target. Since I already have some skin in the game and see that AElf actually has a product (and making progress), I will hold and buy more once I get confirmation that it will bounce off the 16688 resistance. If it breaks through that line, I predict it will fall no lower than the 15550 line since the main trend is up. Worst case scenario is that the feds raid their HQ, seize their assets, news breaking story about how AELF's project is a complete failure, and then the price will nosedive to 12500 territory. Imo, unlikely. Summary: Fundamentals are telling me that AElf is making much progress for a project that raised money in their private ICO back in November 2017 (and as far as we know, did not give discounts to investors for bulk buys). It is already at 17000 sat since November, and will go up plenty more. Technicals are telling me that the long term trend is up and a good hold. The short term trend is telling me that the current downtrend will likely (no guarantee) rebound soon.
by RLUM18
ELF breaking the resistanceELF finaly breaking the old resistances and pumping upwards. I see few possibilities for upcoming scenarios: 1. Resistance is gone for good and we go towards 20k sat psychological resistance line which should be easy to get past after we get going. 2. We close under resistance and retrace towards first trendline before we get ready to test the resistance again. Good level to buy more ELF. 3. BTC starts to move and alt markets lose value. Proly holding this support line. Great level to buy more ELF. Whatever is the outcome, i'm expecting to see 3x sooner or later.
Long
by Em4rk
3