ELA - nice Wyckoff accumulation rangeELA is doing Wyckoff accumulation. It's still not clear if bottom is in or do we get one last wick down to form "Spring". In any case, longterm I am expecting push up to SOS range where we can consolidate a bit before blasting to ATH range with possibility to push all the way to fibb 1.272 extension. Remember to DCA secure profits on the way up.
ELAUSD trade ideas
ELASTOS #ELA Could be a nice leverage play on BTCAs more and more things are being built on and around the big chain
It's a solid way to invest
riding it's coattails
as Bitcoin continues on it's path to 100k plus
Elastos is a sidechain of BTC --- apparently
lets dig around and see what else we can find
Elastos looking readyTook some solid profits out of CLV and rotated into ELA.
Could see an explosion if web 3 really does kick off.
Anyone mine ELA?? Should I start mining also or look for other opportunities?
I see some great potential here& will DCA down but a bag just got packed.
NOT FINANCIAL ADVICE
ELAUSD shows many positive signsRSI at ~60 with plenty of room to move up.
Bullish pennant on hourly, daily.
Break of resistance at 4.75 should lead to move towards .618 fib level of 9.58 and if an extended wave 3, could run as high as $19. Support at $3.
MACD shows sell volume drying up. VWAP shows progressive movement upward for volume weighted price, another positive sign.
This is a bitcoin layer 2 solution and has little competition in the space.