Enigma broke downward from a bearish flag while BTC crashed down to $10,000 USD. At the same time we moved below the 50 day simple moving average for ENG. The 50 day simple moving average held strong support for ENG from December 17th to January 14th while it traded above the 50 day average price. ENG is now increasing in value with higher highs and higher lows forming an ascending triangle. The strong support from the 50 day moving average is now strong resistance. To add to that resistance we have the .5 fib level and slightly higher we have the top of the ascending triangle. If ENG can breakout of all of this resistance look for it to make a big move up. I'm 50/50 on which way this is going but if the breakout occurs it should be explosive. Buy the breakout. Targets at .00066/.00088/.0011.
Commentaire:
BTC broke further downward. Alts were destroyed and ENG chance of upside is limited until BTC recovers and stabilizes.