Hi traders!
We are going to analyse ENJ/BTC today. It's the first time we are going to look at low cap altcoins against bitcoin. Why just now?
It's not any secret, bitcoin dominance has been falling. Despite this trend, many altcoins look very good on charts. Crypto cycle has remained the same. Growth - fall - connsolidation and again. As bitcoin was rising from 3 600 to 13 000 USD, altcoins were falling. The fall was really extreme in some cases. Similar in the case of Enjin Coin. Consequently, altcoins started to consolidate and grow gradually. In the recent days, some altcoins have been growing more substantially and have done interesting percentage. One of the next rising stars could be ENJ.
For small altcoins against bitcoin we use 4H chart and BK method, which is based on moving average. Falling wedge can be seen on the chart, it's a pattern that changes trend. Moreover, we are above MA77 too. Despite the price decrease in the last hours, ENJ is going towards growth. There's so much space for this growth. While bitcoin consolidates or decreases, altcoins have an opportunity. A pump wouldn't be unussual either, because ENJ is followed by a bunch of traders on Telegram. It's highly probable its time will come in the upcoming days or weeks. It's very important we have broken from falling wedge and now we are going confirmation. Our top priority is to stay above the trend line and MA77.
May the Crypto be with you!
We are going to analyse ENJ/BTC today. It's the first time we are going to look at low cap altcoins against bitcoin. Why just now?
It's not any secret, bitcoin dominance has been falling. Despite this trend, many altcoins look very good on charts. Crypto cycle has remained the same. Growth - fall - connsolidation and again. As bitcoin was rising from 3 600 to 13 000 USD, altcoins were falling. The fall was really extreme in some cases. Similar in the case of Enjin Coin. Consequently, altcoins started to consolidate and grow gradually. In the recent days, some altcoins have been growing more substantially and have done interesting percentage. One of the next rising stars could be ENJ.
For small altcoins against bitcoin we use 4H chart and BK method, which is based on moving average. Falling wedge can be seen on the chart, it's a pattern that changes trend. Moreover, we are above MA77 too. Despite the price decrease in the last hours, ENJ is going towards growth. There's so much space for this growth. While bitcoin consolidates or decreases, altcoins have an opportunity. A pump wouldn't be unussual either, because ENJ is followed by a bunch of traders on Telegram. It's highly probable its time will come in the upcoming days or weeks. It's very important we have broken from falling wedge and now we are going confirmation. Our top priority is to stay above the trend line and MA77.
May the Crypto be with you!