ENJ is for long position for me
ENJin coin is now on 54 place in binance ranks. Before few days was on 53 place.
When 12 May broke bearish trend, who was consist from many pumps and corrections is now on the next correction from overbought market when it reached new ATH in USDT (binance). On BTC chart we see testing resistance line on 1D chart. When this test will be passed, we will see with BTC and the same with USDT chart, moving up.
When I analyse with Fib retracement correction from december, we can see many similarity. Strong support it was on price 0,069$, who we see on Fib. Now we have strong support from price 0,163$ to 0,17$, and FIB is on the same about 0,618.
This scenario when not be broken yellow support will be create move sideways with more confirm this support about price 0,167$ and next come moving to new ATH (on binance chart USDT).
When this yellow support will be broken, we going on lower yellow line, who is probably rising long term channel.
When 12 May broke bearish trend, who was consist from many pumps and corrections is now on the next correction from overbought market when it reached new ATH in USDT (binance). On BTC chart we see testing resistance line on 1D chart. When this test will be passed, we will see with BTC and the same with USDT chart, moving up.
When I analyse with Fib retracement correction from december, we can see many similarity. Strong support it was on price 0,069$, who we see on Fib. Now we have strong support from price 0,163$ to 0,17$, and FIB is on the same about 0,618.
This scenario when not be broken yellow support will be create move sideways with more confirm this support about price 0,167$ and next come moving to new ATH (on binance chart USDT).
When this yellow support will be broken, we going on lower yellow line, who is probably rising long term channel.
Penafian
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