ENJ/BTC 100% OPPORTUNITY (OR MORE) - HIGH RISKWelcome to the idea of ENJ / BTC
ENJ Broke a High Wedge on the weekly chart.
That is, we may see an extremely positive long-term movement for cryptocurrency.
Note that: The analysis may be nullified if Bitcoin keeps falling, we know that altcoins are bitcoin hostage currencies.
However, analyzing only the ENJ the context is HIGH.
Weekly MACD piling up for purchase.
Resistances highlighted in the chart: VPVR signals us strong zone in 800 satoshis.
If it breaks, we can see in the range of 1000-1200 Satoshis, almost 100% upside.
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THIS IS A HIGH-RISK TRADE, NOT AN INVESTMENT ADVICE.
MAKE YOUR OWN RESEARCH.
ENJBTC trade ideas
#Enjin Coin BTCWe still expect another bullish wave in the medium term
Prices may drop on the white lines shown in the analysis
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Profit so far on the channel
#DOCK +25%
#AMB +63%
#KAVA +66%
#ANKR +45%
#TROY +65%
#BQX +70%
#STX +37%
#OGN +21%
#POLY +70%
#TCT +70%
#CHR +32%
ENJBTC | Parabolic Curve | Trade Setup ENJ BTC
Points to consider:
- Respecting the very bullish parabolic formation
- Testing structural support
- RSI above 50
- Below average volume
- Price respecting and trading above 21 EMA
ENJBTC retracing to test structural support after an impulse move to the upside
Currently respecting the parabolic curve and trading 21 EMA both serving as very bullish indicators
RSI also above 50 and forming a symmetrical triangle, a break to the upside will support the bullish bias
Below average volume is an indication of an influx being imminent, this will also coincide with the possible breakout
Next target will be the .5 Fibonacci retracement in confluence with structural resistance
ENJ / BTC Moving On A Parabolic CurveENJIN (ENJ) is moving on a parabolic curve which oftenly moves in parabolic price action and immediately sells off at the end of the curve. You can Google the term "parabolic curve" and see the symbolic chart which represents the typical price action.
Watch out the "buy the breakout" level and as soon as it breaks above, enter the trade and put your stop loss just below that level and let it ride.
Good luck!