ELON, STILL BULLISH HERE'S WHY...
Hello everyone,
Our trade on ELON is taking longer to play out than originally expected however, I remain very bullish at this point in time.
As seen in my chart, we have been following an uptrend nicely with no breaks of support after the bear trap earlier in the pattern where we dipped below briefly before immediately rising back into the pattern.
On my chart I have pointed out where we have found support numerous times on our trend line affirming the bullish sentiment.
Another bear trap is possible (though unlikely imo). If we do experience another bear trap, the price should not fall below the dark grey line to remain bullish. If the price falls below that line, we will need to reassess our position.
As of right now however, it is still looking very bullish. It is also of interest that a wallet has purchased a little over 80 million in Elon over the past 18 days adding to my own bullish sentiment.
Updates to come. If you haven't already, please LIKE and SUBSCRIBE for future updates and analysis.
To my Shiba holders: I will update on SHIBA next. I will post my SHIB analysis by the end of the day. :)
Our trade on ELON is taking longer to play out than originally expected however, I remain very bullish at this point in time.
As seen in my chart, we have been following an uptrend nicely with no breaks of support after the bear trap earlier in the pattern where we dipped below briefly before immediately rising back into the pattern.
On my chart I have pointed out where we have found support numerous times on our trend line affirming the bullish sentiment.
Another bear trap is possible (though unlikely imo). If we do experience another bear trap, the price should not fall below the dark grey line to remain bullish. If the price falls below that line, we will need to reassess our position.
As of right now however, it is still looking very bullish. It is also of interest that a wallet has purchased a little over 80 million in Elon over the past 18 days adding to my own bullish sentiment.
Updates to come. If you haven't already, please LIKE and SUBSCRIBE for future updates and analysis.
To my Shiba holders: I will update on SHIBA next. I will post my SHIB analysis by the end of the day. :)
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