Well, I'm getting a bit excited about this coin. aELF is one of those coins that really impressed me when it was first added to Bitfinex. It had great volume for a token, and seemed to always have great support with some excellent rallies. A few weeks ago it rallied well, based I believe on a listing on Bithumb.
Since then, it's been in profit taking mode, and we have gone through an impulse wave down, more clear on the 15 minute chart. What I think is worthwhile pointing out is the support area we have now reached. This was establish during the last 3 weeks of April, and if you pull back the chart even further, almost the entire month of February ... that's a lot of support.
So, I've bought some of this coin ... and to be honest, I don't like risking money on coins with small volume when BTC is so bearish. But this one has been pummeled from a sale off after the listing hype faded, and at the same time compounded by a BTC drop. So, it is possible that has accelerated us into a big support area, and if BTC behaves for a few days, we can see a nice run up.
I have watch aELF and how it performs after a BTC dump. It generally needs a few days of BTC stability, and then there's almost always been a great rally.
Let's see ... I figure we have great support here, and lots of upside!
Remember, only a fool will count on one potential outcome.
Do not use for investment decisions. For educational purposes only.
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BTC going through a small correction. ELF up 15% since my call. I expect BTC to hit around 8100 - 8150 and then rally back up to the 8600 - 8800 range. That could send ELF to the next resistance level.
If you wish to make a donation, based on profit you made on my ideas ... it would be greatly appreciated. BTC address 14i2Xit5pH7Sz5TMegDn8vDT6VcoN85f42 ETH address 0x8a62eE1B2628297EA51aD08dadFFCed3F73e6eed LTC address LXoyzmL85HvED1LyHkJtGygUPbBUZdyZZP