ENJBTC Forming a Bullish Symmetrical Triangle - Quick 20%?
Updated
Is the trend downwards officially over? Over the last two weeks we saw a inverse head and shoulders breakout of the down trend creating the first wave within what appears to be a bullish symmetrical triangle which would lead me to believe an additional breakout upwards to about .00001900-.00001950, a gain the same height of the first wave into the triangle.
Plan would be to buy at .00001650 knowing little risk with the 200 EMA on the 30 interval having established support over the past few days.
This is based off the 30 min interval which I don't generally rely on except I am doing so here considering that the breakout was recent and the new trend upwards is still fresh. This could be some perfect timing coming off some relatively strong news over the last week that really has not been reflected in the price. While this is a short idea, I am also long on ENJ as well.
Plan would be to buy at .00001650 knowing little risk with the 200 EMA on the 30 interval having established support over the past few days.
This is based off the 30 min interval which I don't generally rely on except I am doing so here considering that the breakout was recent and the new trend upwards is still fresh. This could be some perfect timing coming off some relatively strong news over the last week that really has not been reflected in the price. While this is a short idea, I am also long on ENJ as well.
Order cancelled
BTC does what it does best and tanks a positive pattern causing it to break down from what was a bullish symmetrical triangle. Time to let the dust settle and watch to see if a new pattern plays out following the potential BTC rebound at $7,200
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