#ENJ $ENJ bullish divergence

23. Juli 2019

Title says it all. Clear bullish divergence on daily chart, but I chose the 12hr time frame.

Bitcoin making a move after bouncing from 9800, but this alt trade should work out in the mid to long range.

23. Juli 2019

Anmerkung

Bottom trend line acting as support as well as 800 sats. Top trend line acting as resistance. We're looking to break through the top trend line.

25. Juli 2019

Anmerkung

So far so good.... Trend is continuing.

26. Juli 2019

Anmerkung

12hr chart still looking good. Producing higher lows consistently. Taking a closer look on the 2hr time frame I have marked TK crosses on w/ a green circle. This time frame is only indicative of short term price action, but the recent TK cross below the cloud is bullish considering the bull divergence on the 12hr and 1D charts. We can still see bounce to bottom trend line or even lower, but it's looking positive on multiple time frames. BTC dominance is also slowly decreasing while alt dominance slowly rises.

27. Juli 2019

Anmerkung

Rejected at descending resistance........ trend continues =/

28. Juli 2019

Anmerkung

4hr TK cross

2. Aug. 2019

Anmerkung

Pattern broke and hit 956 sats giving a possible 9% profit. Personally took profits at 5% and 8%.

Bitcoin movement ruined Enjin's upswing, and we're currently below the 800 support line. I will be looking for a good re-entry price, but BTC dominance has to decrease for this to happen, or total marketcap has to increase greatly. More likely to see BTC dip then a parabolic marketcap move, at least in the short term.