Good morning all
We will be looking at the ENJ/USDT pair this time around
Lets begin!
In our previious analysis we pointed out regions where price could bottom out for enjin coin, as shown below;
Price is trading at that level currently and we have ourselves a Regular flat correction in play judging by the price action.
In theory a regular flat has it's C wave to be 61.8%, 100%, or 123.6% of wave AB. So far we have a 100% retracement leaving us with our worst case scenario zone aligned with the 123.6% fib support level. That said, this is a very good buying opportunity (don't take my word for it)
Our targets for the 5th wave fall within the $12-$15 dollar range depending on where the bottom will be.
Past analysis linked below
PLEASE APPLY PROPER RISK MANAGEMENT!
If you agree with the idea, pls like, share, and comment your thoughts below.
As always, feedback is appreciated!
We will be looking at the ENJ/USDT pair this time around
Lets begin!
In our previious analysis we pointed out regions where price could bottom out for enjin coin, as shown below;
Price is trading at that level currently and we have ourselves a Regular flat correction in play judging by the price action.
In theory a regular flat has it's C wave to be 61.8%, 100%, or 123.6% of wave AB. So far we have a 100% retracement leaving us with our worst case scenario zone aligned with the 123.6% fib support level. That said, this is a very good buying opportunity (don't take my word for it)
Our targets for the 5th wave fall within the $12-$15 dollar range depending on where the bottom will be.
Past analysis linked below
PLEASE APPLY PROPER RISK MANAGEMENT!
If you agree with the idea, pls like, share, and comment your thoughts below.
As always, feedback is appreciated!
Note
Slight Update to the idea! We may have our self an Expanded flat Correction instead of the earlier mention Running flat correction.Expanded Flats have Wave C targets being 123.6%-161.8% of wave AB, hence leaving us with our new worst case scenario.
Note
Should bitcoin breakdown to 20k then this is very likely
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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.
Related publications
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.