ELF/BTC { AELF } - BULLISH SETUP
ANALYSIS 🔎
- ELF/BTC is consolidating in a symmetrical triangle pattern.
- Price is testing the symmetrical triangle's inclined support.
- There's an ongoing double bottom formation.
- A double bottom is a bullish reversal pattern.
BUY ENTRY ⬆️
- Aggressive entry: current market price.
- Conservative entry: breakout above the double bottom neckline resistance.
TARGETS 🎯
- Horizontal resistance level at the mid region of the symmetrical triangle.
- Symmetrical triangle's inclined resistance.
SETUP INVALIDATION ❌
- Breakdown below the double bottom horizontal support level and the symmetrical triangle's inclined support.
- ELF/BTC is consolidating in a symmetrical triangle pattern.
- Price is testing the symmetrical triangle's inclined support.
- There's an ongoing double bottom formation.
- A double bottom is a bullish reversal pattern.
BUY ENTRY ⬆️
- Aggressive entry: current market price.
- Conservative entry: breakout above the double bottom neckline resistance.
TARGETS 🎯
- Horizontal resistance level at the mid region of the symmetrical triangle.
- Symmetrical triangle's inclined resistance.
SETUP INVALIDATION ❌
- Breakdown below the double bottom horizontal support level and the symmetrical triangle's inclined support.
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