ENJBTC | Parabolic Curve | Trade Setup

ENJ BTC

Points to consider:

- Respecting the very bullish parabolic formation
- Testing structural support
- RSI above 50
- Below average volume
- Price respecting and trading above 21 EMA

ENJBTC retracing to test structural support after an impulse move to the upside

Currently respecting the parabolic curve and trading 21 EMA both serving as very bullish indicators

RSI also above 50 and forming a symmetrical triangle, a break to the upside will support the bullish bias

Below average volume is an indication of an influx being imminent, this will also coincide with the possible breakout

Next target will be the .5 Fibonacci retracement in confluence with structural resistance