$ENA Double-bottom Breaks Neckline 0.148 — That day, I said: wait for a pullback to 0.148–0.15 for a buy.
The market slapped me with a bullish candle that didn’t pull back—after breaking out, it immediately surged 18.91%, all the way to the upper edge of the consolidation zone at 0.176.
This is what a strong breakout looks like: it doesn’t give you a comfortable entry spot. The ones waiting for a pullback are all below watching—price doesn’t even touch the neckline.
Now that it’s at 0.176, the upper edge of the consolidation range, there are two choices:
• If you’re already in the trade, cut the position in half at 0.176; the rest depends on whether it can break through and hold with a real body
• If you’re not in yet, don’t chase. Chasing higher doesn’t have as good a risk-reward ratio as waiting—either after breaking above 0.176 it pulls back without breaking it, then you can re-enter; or let a smaller timeframe form a new structure before considering
Double-bottom + no pullback means this move is truly driven by real buy orders. But real buying doesn’t mean this is a good price right now—good structure and good price are two different things.
If the next 4-hour candle closes above 0.176, then we can talk about flying; if it can’t close up there, consider this area a target for now.
#ENA $BTC
The above is only my personal opinion and does not constitute investment advice.
The market slapped me with a bullish candle that didn’t pull back—after breaking out, it immediately surged 18.91%, all the way to the upper edge of the consolidation zone at 0.176.
This is what a strong breakout looks like: it doesn’t give you a comfortable entry spot. The ones waiting for a pullback are all below watching—price doesn’t even touch the neckline.
Now that it’s at 0.176, the upper edge of the consolidation range, there are two choices:
• If you’re already in the trade, cut the position in half at 0.176; the rest depends on whether it can break through and hold with a real body
• If you’re not in yet, don’t chase. Chasing higher doesn’t have as good a risk-reward ratio as waiting—either after breaking above 0.176 it pulls back without breaking it, then you can re-enter; or let a smaller timeframe form a new structure before considering
Double-bottom + no pullback means this move is truly driven by real buy orders. But real buying doesn’t mean this is a good price right now—good structure and good price are two different things.
If the next 4-hour candle closes above 0.176, then we can talk about flying; if it can’t close up there, consider this area a target for now.
#ENA $BTC
The above is only my personal opinion and does not constitute investment advice.
