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!
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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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