Timechain Coder
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$ENA There hasn't been much change since my last post. Although the technical image shows an accumulation and the bottom formation before a reversal, I'm not sure that the decline will be enough since it hasn't breached the order block yet. Previous bounce from the order block remained a liquidation sweep so a lower level should be expected then the previous swing low.
My preference here is that if these levels are going to be a reversal level, it should first sweep the liquidation with a deep wick below the green box order block, then quickly rise above 0.37.
If such a scenario happens, I'd expect it to rise to 0.48 first, and if that level can be won, 0.66 will be the target. Due to the liquidation pools above that I shared in my previous analyses, it can rise to these levels quickly after the first resistance is breached.
However, if the bottom formation is not here but after the imbalance below is filled, it would be best for everyone to reach the 0.25-0.28 range as soon as possible quickly.
My preference here is that if these levels are going to be a reversal level, it should first sweep the liquidation with a deep wick below the green box order block, then quickly rise above 0.37.
If such a scenario happens, I'd expect it to rise to 0.48 first, and if that level can be won, 0.66 will be the target. Due to the liquidation pools above that I shared in my previous analyses, it can rise to these levels quickly after the first resistance is breached.
However, if the bottom formation is not here but after the imbalance below is filled, it would be best for everyone to reach the 0.25-0.28 range as soon as possible quickly.
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