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ELFBTC trade ideas

ELF could be forming a bear-flag. Might look to double bottom. ELF/BTC appears to be forming a possible bear-flag. We saw ELF/BTC take a sizable drop from about 5180 to 4850 (330 sat drop.) With that sat drop in mind, we can see ELF/BTC is currently consolidating upwards and to me, this is a text-book bear flag. If the bear-flag breaks to the downside, the length of the flag-pole (previous drop from 5180 to 4850) would take our current price around 4950 and put it right around 4620, which is right in-line with our base-line fib level from our previous bottom in September around 4600. We can see the RSI is turning up from oversold territory back into the neutral territory, as is typical with bear-flags (sort of like a cool-off period), so it could have a little room to move back into the neutral territory, but I suspect it will be short lived before we see it drop once more. There is always a chance the .236 holds around 4850, but I lean toward a double bottom around 4600 in my personal opinion. Do keep tabs on Bitcoin and on the overall market sentiment. Low liquidity and low volume can allow for big moves seemly out of no where, so make sure you keep that in mind. Reentry target: Baseline fib level (or the 0 fib level, they mean the same thing) at 4600. (Would make for a double bottom in combination with our September low.) --This is not financial advice. Always do your own research and come to your own conclusions before buying/investing, as investing in cryptocurrencies comes with high risk and high amounts of volatility.
Short
by Deftsuo
ELF BTC BINANCEGreetings! So ELF pumped hard. I had been waiting for this pump for 3 weeks! Those of you who have been with us for a while will remember riding those massive ELF gains from a few months ago. Seeing the full retrace tempts one into searching for pumps! With this large interest possible on this coin i think it is a good one to make trades on. Today We sent a signal out for our Cryptohopper And you can see it made good gains! Expect more action like this out of this coin. Things to note!!! It didn't pump until after BTC was looking down, so it hasn't been experiencing "false independence" from BTC like many of the other alts have of the last few weeks. We will be watching closely.
by Altcoin_Ninjas
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