ENG/BTC still correcting but remains very bullish
Hi guys, elliot wave analysis on ENG/BTC showing the correction is likely to still continue but not for too much longer. Clearly we are finishing of a likely C wave in an ABC correction, i do not recommend any positions at this time. It is worth noting enigma has actually held most of its gains (+50%) in this correction cycle considering btcs deep correction. We saw most alts correct to 60% or lower levels and ENG did not which makes me feel very bullish on this token.
On a larger Elliot wave cycle i believe we are about to finish wave 2 in a primary cycle and if that is the case we could see a very large uptrend coming for ENG and potentially +300% in the coming month. I recommend waiting for an uptrend confirmation however in case this correction does go more complex.
*This is not financial advice and is for comedic and light hearted entertainment purposes only*
Thoughts and feedback appreciated.
On a larger Elliot wave cycle i believe we are about to finish wave 2 in a primary cycle and if that is the case we could see a very large uptrend coming for ENG and potentially +300% in the coming month. I recommend waiting for an uptrend confirmation however in case this correction does go more complex.
*This is not financial advice and is for comedic and light hearted entertainment purposes only*
Thoughts and feedback appreciated.
Comment:
Hopefully you guys avoided the false breakout yesterday as I said it is still not the time to buy I would wait atleast until we get 0.5 fib retarcement preferably lower. Trade safe
Trade active:
Could start laddering in buys or wait for further btc downside which could bring us to between 18-26k sats (the fibs).