📉 $ENA VS $BTC

– Breakdown After Breakdown

Trend: Down-only since May 2023

Structure: Still bearish

Bias: Short-term bounce → Sell the rip

🔍 What the Chart Says:

🔻 Dominant Downtrend

ENABTC has been trapped in a consistent lower high, lower low structure. Multiple MSBs (Market Structure Breaks) to the downside confirm bearish control.

🟥 Supply Zones = Kill Zones

The red zones on top (marked BE/BE-Q) acted as brutal rejection points over and over again.

Each visit to that area has led to sharp sell-offs.

No reclaim = No reversal.

💥 Demand Weak, Rebounds Faded

Even when there were demand attempts (D/BE), they barely triggered anything sustainable.

Only one good bounce in early Oct 2024. Everything else got nuked.

📉 Most Recent Zone: DD + BE

We’re seeing a Double Demand (DD) area at the bottom now, where price just printed a small bullish engulfing (BE).

Historically, this has led to short-term relief rallies—but nothing major.

🧠 Interpretation & Playbook:

🔸 Short-term traders:

Expect a bounce. But don’t overstay. Sell around the next BE/OB supply zone if price rallies.

🔸 Swing traders/investors:

Stay out unless ENABTC reclaims major MSB zones and invalidates this multi-month downtrend.

Right now, it's still distribution → not reversal.

🔸 BTC pair implications:

You’re better off holding BTC in this phase.

Wait for BTC.D to cool off + macro alt rotation signs before considering heavy alt exposure like ENA.

✅ TL;DR:

Downtrend still intact.

This bounce is likely another exit pump unless we see real structural change.

📈 Play the bounce.

💣 Don’t trust the trend.