itradearn
Long

Enigma - Huge Long Opportunity

BINANCE:ENGBTC   Enigma / Bitcoin
ENG day chart is a joy to watch. Crystal clear from a TA perspective. We have a massive bull flag which is a very profitable and successful bullish pattern . This pattern is preferred to be played out on the breakout among traders. Price retraced to the 0.618 at 0.00022100 which gave it the golden ratio bounce. The fact that all this is happening on the Day Chart makes the breakout stronger.

BTC is going through a possible reversal but its most likely a pullback unless $7000 is broken. So at this point BTC might give us a couple of days to go sideways or maybe even go slightly more bullish . Sideways or bullish movement from BTC will result in alts rising in both volume and price. So from a risk perspective it may be slightly less risky and a stop loss should always be applied.

Price formed a higher low and the stochastic confirms the trend is bullish . We have 4 possible profit taken areas:

0.00027279 18%
0.00028299 23%
0.00029950 30% (1:1 flag length. If TA is correct this price AREA is highly likely to be achieved)
0.00032620 42%

Also they have their Enigma Testnet 1.0 Release today which may be the first push to going long.

This analysis is not financial advice. Always do your own research.
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