Enjin Coin (ENJ): An Ascending Right Triangle Breakout Potential

SUMMARY

Enjin Coin (ENJ/BTC) could be an up and coming potential purely from a technical perspective. Instead of diving and starting its genesis as a correction; it actually started with a bullish impulse (blue waves). The below chart shows the five wave ramp up and now the correction coudl be sidways basing and ready for a potential breakout that could get serious. The ABC (red) is an exapnded correction where wave B is higher than the origin of A. So, what next?

Drawn belos is a horizontal and a rising pair of blue lines. This is called an ascending right triangle which has bullish implications. Price breakout potential is fully supported by the MACD...look how close it is to the apex!

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?