ENJ - a trend line has been formed, but a large volume has come

Bitcoin has broken its local trend line, big volume appeared at the top and this is not a good signal. Therefore, there are several market scenarios to consider now.

There is a trend line on the ENJ chart, the price is testing the trend line for the fifth time, with each test the resistance is weakening and a breakout might come soon. I don't like that the ENJ also has a big volume on the top.

In case of a breakdown of the trend line, there could be a good buying opportunity. In case of a false breakdown a good opportunity to sell.

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P.S. I personally will open entry if the price will show it according to my strategy.
Always make your analysis before a trade.

Comment:

Trade closed: target reached: