ENJBTC
(ENJBTC) looks so ripe! Massive falling wedge breakout? ENJ chart looking so ripe! Let's get into the chart straight away!
Pattern: We can observe that a MASSIVE bullish falling wedge is forming and ENJ has been retracing for the past 3 months (in crypto world, it feels like forever) and has finally finished its retracement at the 23.6%.
Indicators:
MACD: Bullish and great momentum building up
RSI: Still have so much room upwards
How to confirm the breakout?: Candle closes above the resistance trend line (~2000 sats) (refer Blue arrow). The breakout should occur WITH volume.
Trading plan: Accumulate ENJ within the buy zone and wait for the breakout (if price closes above ~2000 sats).
Buy range: 1850-1950
Target: 2066-2154-2281-2442-2730-2907
Stoploss (10% from entry): 1665-1755
Enjin Mid-term Signal by Rocket-ProENJ has been evolving in a downtrend materialized by a descending channel since March 9. The wedge broke out on June 2 and ENJ is now in an accumulation phase.
Buy : current price
T1 : 2150
T2 : 2803 ( 23.6% Fib )
T3 : 3492 ( 38.2% Fib )
Stop : < 1650
You may sell 33% of your position at each target and move your stop loss to breakeven once T1 is reached
$ENJ Accumulation happening over support at ~1850 sats...$ENJ Accumulation happening over support at ~1850 sats, volume is really low which lead me to think the sell pressure is over
UCTS Buy signal flashing on the 1D chart
Both MACD & RSI showing bullish divergences, signalling potential reversal from here
stay alert.
#ENJ
ENJ/BTCENJ/BTC
Looks like it has found strong support at the 0.786 Fib in the form of a Double Bottom
Needs to close above the 200-Day MA
Targets on the chart
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The information given is never financial advice. Always do your own research.