ENG/BTC! ENG has formed an ascending triangle (bullish pattern) but it is currently in a downtrend trend inside of the ascending triangle on the day chart. On the 4hour chart a rising channel was formed and is breaking to the downside of the overall pattern which confirms my technical analysis for me. Our current resistance is at .00006661 and my first support target is at or around the area of .00005846 I am waiting to see a bounce. As of now I'm waiting for my support to be tested. Please let me know what you think of my technical analysis and thank you.
Comment:
ENG/BTC! Currently I have six touches in an ascending triangle. I'm looking for a bounce or volume for a bullish confirmation. At this moment if a daily candle closes below the pattern's trendline it may become bearish. Overall I'm neutral at this moment.