Evening Traders,
Today’s technical analysis will focus on ENJBTC, noticeable bull volume coming in, it needs to close above structural resistance.
Points to consider,
- consecutive higher lows
- Structural resistance to break
- Respecting trend line and 200 MA
- RSI projecting up
- Stochastics in the lower regions
- Noticeable bull volume
ENJ has been putting in consecutive higher lows, it must maintain this projection for a bullish bias. Structural resistance to break, a close above this level will confirm the trend change.
ENJ has been respecting its blue trend line, and bounced of the 200 MA, putting emphasis on a probable fractal, historically it leads to a pump.
The RSI is projected up, neutral territory whilst the stochastics on the other hand trades in lower regions; it has stored momentum to the upside.
There is a noticeable increase in bull volume which must sustain over the next couple days; this will increase the likelihood of breaking structural resistance.
Overall, in my opinion, ENJBTC needs to break resistance with a close; the macro trend will then be changed with a confirmation.
What are your thoughts?
Please leave a like and comment,
And remember,
“Hope is bogus emotion that only costs you money.” – Jim Cramer
Today’s technical analysis will focus on ENJBTC, noticeable bull volume coming in, it needs to close above structural resistance.
Points to consider,
- consecutive higher lows
- Structural resistance to break
- Respecting trend line and 200 MA
- RSI projecting up
- Stochastics in the lower regions
- Noticeable bull volume
ENJ has been putting in consecutive higher lows, it must maintain this projection for a bullish bias. Structural resistance to break, a close above this level will confirm the trend change.
ENJ has been respecting its blue trend line, and bounced of the 200 MA, putting emphasis on a probable fractal, historically it leads to a pump.
The RSI is projected up, neutral territory whilst the stochastics on the other hand trades in lower regions; it has stored momentum to the upside.
There is a noticeable increase in bull volume which must sustain over the next couple days; this will increase the likelihood of breaking structural resistance.
Overall, in my opinion, ENJBTC needs to break resistance with a close; the macro trend will then be changed with a confirmation.
What are your thoughts?
Please leave a like and comment,
And remember,
“Hope is bogus emotion that only costs you money.” – Jim Cramer
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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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
partner.blofin.com/d/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.