Enigma ENG - Feb 2 Technical Analysis Update - Correction Target Hit

We find Support at 9K - For Now.
Long Term Bias (6+ months) - No Bias
Medium Term Bias (Days to weeks) - Bullish
Short Term Bias (Today) - Neutral
Long Term Target Prediction - None yet

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We see correction target hit with a long wick and hammer candle on the daily chart. Correction target was roughly 27K satoshi.

I highly advise waiting till BTC has a definitive uptrend before entering.

We also see a descending triangle is possible to form with bearish pressure to break down to lower support regions. Waiting for volume and until a solid bullish candle forms with indicators RSI MACD showing bullish convergence is recommended.

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Always be cautious, take high probability trades, plan entries and exits, stick to high reward low risk R:R setups. Good luck traders

Tutorial Series

Lesson 1 - Bitfinex Tutorial - How to Customize and Set Up Bitfinex
Lesson 2 - How to Analyze Candlesticks Charts with Strategy
Lesson 3 - Moving Averages
Lesson 4 - Relative Strength Index RSI with Advanced Strategy
Lesson 5 - MACD and Histogram
Lesson 6 - Margin Trading Long, Short, Leveraging
Lesson 7 - Basic Risk Management
Lesson 8 - Fibonacci Retracement Part 1
Lesson 9 - Fibonacci Extension Part 2
Lesson 10 - Laddering
Lesson 11 - How To Interpret Time Frames
Lesson 12 - Swing Trading Advanced 55 EMA Strategy
Lesson 13 - Introduction To Elliot Wave Theory
Lesson 14 - Using a Basic Excel Tracker for Risk Management
Lesson 15 - Tutorial Part 15 Automatic Stop Sell/Buy Executions
Lesson 16 - Tutorial Part 16 - Advanced 55 EMA Strategy with Time Frames and MACD Part 2

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