ENG - New wave starting or continued downtrend.
In my chart there could possibly be a new Elliot wave forming, but wave 3 needs confirmation. IF wave 3 holds it, could go up to 36 500 sats where it would find resistance. I'm still holding ENG purchased at the 31k mark but will be looking to exit at this point short term.
If wave 3 fails, and no new Elliot wave is forming, we could see a continued downtrend to the original 0.618 fib retracement levels to find resistance at 23 900 sats.
Downtrend of BTC may have an effect which leans me more towards a continued downtrend to the 23 900 - 24 000 sats mark where I will be looking to enter into a position.
Please let me know your opinion and feel free to leave any criticism on my chart as this may help me improve and better my future charting.
If wave 3 fails, and no new Elliot wave is forming, we could see a continued downtrend to the original 0.618 fib retracement levels to find resistance at 23 900 sats.
Downtrend of BTC may have an effect which leans me more towards a continued downtrend to the 23 900 - 24 000 sats mark where I will be looking to enter into a position.
Please let me know your opinion and feel free to leave any criticism on my chart as this may help me improve and better my future charting.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.