ENGUSD has formed a large descending scallop
once price reaches horizontal levels and the scallop has completed price can rise sharply
this is a nice entry point as you can see the scallop has nearly completed
I am long Enigma ENGUSD
ENIGMA (ENG) has the potential for big gains ever since its broke past the weekly 21 EMA and a long term trend line\resistance.
For now, its one asset that has my attention and a small position on it. I will be buying pullbacks on it and this one is a longer term play.
I have the 1st target as per the chart.
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Under MA cap
Many alt coins look 'healthy' and are sitting above this level
Is this the key to a coin purge?
Personally i am long this due to its partnership with Intel
Or is it simply dipping underneath?
Feel free to leave comments below
Enigma has formed a large ascending scallop relative to the hourly time frame.
The upper resistance of this is looking to break.
I've included some chart patterns the major one is the bump and run
Where price "bumps" above the major trend, and then "runs" back to the trend.
I really like this coin.
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ENG looks ready to break the downtrendline which started in Januari 2018, right before the burst of the Crypto Bubble.
If ENG breaks this trendline, it's off to the races. I'd wait for a close above 3100.
Without too much bla bla bla :D everything on the chart.
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Price action of Enigma / Bitcoin is forming a bullish Butterfly and soon it will be entered in potential reversal zone.
This PRZ area should be used as stop loss in case of complete candle stick closed below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 0.00005540 to 0.00004948
Sell between: 0.00006000 to 0.00007108