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ENJBTC retrace watch: Enjin pullback zones of interest

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Enjin had quite a run, and is probably not done yet imo.
But it needs a retrace for profit taking and re-engaging bulls.
Green zones are Fib Confluences that should cause a reaction.

Extreme caution with these new coins and suddent hype.
But Samsung support and use in games is very bullish sign.
For me these are not hodl buy zones, just scalp zones.
Nota
Here we are at the first sliver of support snapshot ok bounce, but the fibs were pierced so that first support is probably drained now. Looking for next support around 4600-4667 zone

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Approaching the minimum expected retrace poinst snapshot

Zooming in and addig EW count plus a fib to recent leg down snapshot It is possible that the ABC correction is done. It has the requisited 5-3-5 wave substructure, and the Fib of wave C shows 3.618 bounce which can sometimes end a wave. But I think we are still leaning for the 4.236, the most common wave-ender.

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Here we are at the support zone as expected snapshot watching closely.

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Decent bounce thus far snapshot
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Here we are at the "Likely" retrace point expected snapshot

Zooming in we see the EXACT reaction at fib confluence expected snapshot now bulls need to break free of this micro fib and start a new one, otherwise we will see more down.

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Elliott WaveFibonacciSupport and Resistance

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Elliott WaveFibonacciSupport and Resistance
EuroMotif
Mod
the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
Também em:

Aviso legal

As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.