Broke off recent range, retest to new range at the lower side.
possible short trade up to mid side of the range. needs to see what would be the reaction in each levels
If we break this trend line and have a close above 0.041-0.042, trend continuation may be possible. Somehow, DeFi's have been crypto's recent flavor. There's still some upcoming news for this if I'm not mistaken.
As a note, my way of thinking when trading is always technical analysis + fundamental analysis. FA for conviction, TA for precision.
ENJBTC has shown signs of a trend change. Not necessarily that this goes completely bullish but I'm seeing that we could see this go to a higher level. EMA9 and MA20 about to cross. CCI and RSI already in bullish territory.
Need more volume to sustain this move, and if it does we can go to the previous supports and resistances for the targets.
(not a financial advice)
With all the hype that's going on with this coin, it is still best to check a good entry.
Based on the RSI, this is going on a downtrend. But i believe this only down to the trend line or the MA. we can use the MA as support as well. longterm looks bullish given the team is putting up updates regarding their achievements.
unless this coin does't go parabolic, it...
BTC still in upward trend.
With this, we reached all time high around 7900, it was a matter of time that a correction to happen. For now, BCH was the catalyst for the correction. This is still a healthy correction. We have to remember that a month ago, we were at the 5000's level. It had to correct.
Possible scenario:
1. support at 5600 maintains, this would...
You are seeing here is a falling wedge which is a bullish pattern. I'm bullish on this because BTC is currently mooning. Once traders gains their profits, the money will flow towards alt coins which are currently on a discount and a good time to buy.
Red dotted lines indicates previous supports which is now our resistance levels. Once we break the trend line...
In this chart, trend lines show for possible supports. since it broke the first trend line, this could indicate a bearish trend.
and if support is strong on the trend line, it could pull back to retest resistance. if it breaks again the support, a lower drop will be seen.
***PS, still new to TA, still trying. so feel free to comment if i'm wrong.
