ENG/BTC 1D (Binance) Falling wedge break-out & on strong support
Updated
Enigma is looking juicy after breaking-out from wedge and RSI from triangle few days ago (pink ones).
We can clearly see a descending channel which has been respected since late November 2019 (beige one).
Also, PA has been moving inside a huge falling wedge for more than two years now (blue one).
So I'm expecting uptrend to resume soon and price to grow at least to parallel channel resistance.
Closing above big wedge would be extremely bullish, but we would take care of this matter later.
Buy Entry= 0.00001600 - 0.00001480
Take Profit= 0.00002023 | 0.00002371 | 0.00002933
Stop Loss= 0.00001055
Risk/Reward= 1:1 | 1:1.71 | 1:2.87
Expected Profit= 31.36% | 53.96% | 90.45%
Possible Loss= -31.49%
Fib. Retracement= 0.236 | 0.382 | 0.618
We can clearly see a descending channel which has been respected since late November 2019 (beige one).
Also, PA has been moving inside a huge falling wedge for more than two years now (blue one).
So I'm expecting uptrend to resume soon and price to grow at least to parallel channel resistance.
Closing above big wedge would be extremely bullish, but we would take care of this matter later.
Buy Entry= 0.00001600 - 0.00001480
Take Profit= 0.00002023 | 0.00002371 | 0.00002933
Stop Loss= 0.00001055
Risk/Reward= 1:1 | 1:1.71 | 1:2.87
Expected Profit= 31.36% | 53.96% | 90.45%
Possible Loss= -31.49%
Fib. Retracement= 0.236 | 0.382 | 0.618
Trade active
First entry was hit (went down to 1571 sats) and now in profit : +13.75%, keep holding guys, we are halfway to first target.Trade closed: target reached
TP1 hit with +31.36% then got rejected on middle channel trendline. I'm taking some profit here and holding the rest of my position for higher targets!Note
Pumped back again, check the precision of the middle line of the parallel channel, we need to break it in order to reach higher targets!Trade closed: target reached
TP2 hit with +53.96% profit 💥 Last target is still valid, keep an eye on the entry zone for a possible buy back also.Note
Buy back zone was perfectly hit, now road to TP2 again!Trade closed: target reached
And that's a wrap, TP3 hit with +85% from re-entry, I hope you paid attention! 🤑Please give me some like here, I think that analysis deserves more than 12...
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