Zoomed in on the 30 minute interval shows ENJBTC with a recent breakout into a symmetrical triangle (Orange). This would be a continuation pattern that is more likely to break up again rather than reverse and down.
If you zoom out, you see ENJBTC is attempting to complete a the right shoulder of a rather lopsided inverse h&s pattern (Green) signifying a reversal of the greater downtrend. Exciting times ahead? I can't help but anticipate the news of being added to its second large exchange on Monday 4/9 will drive ENJBTC to complete this pattern. Whats next? Possible target breakout range between 0.00001900 and 0.00002500 range.
If you zoom out, you see ENJBTC is attempting to complete a the right shoulder of a rather lopsided inverse h&s pattern (Green) signifying a reversal of the greater downtrend. Exciting times ahead? I can't help but anticipate the news of being added to its second large exchange on Monday 4/9 will drive ENJBTC to complete this pattern. Whats next? Possible target breakout range between 0.00001900 and 0.00002500 range.
Note
Finding resistance at the neckline, pattern is not complete without a breakthrough and all we need is some volume. If the breakthrough is confirmed, look to anticipate some resistance at 0.00001600 from most recent peak to peak trendline which would be the last trendline of resistance. Thereafter, anticipated resistance would be found at past peaks, so first up would be 0.00001750 and fib retracement levels so around 0.00001820.Note
Note
1 DAY Chart Showing Bullish Cross of MAC D and RSI breaking 50. Note
15 Minute Interval also showing bullish cross on the MAC D, strong RSI and piercing the neckline of the Inverse H&S. Just looking for some volume. Note
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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.