ENS/USDT - Bottom forming?
ENS is down bad since it's bull run highs... like 90% or so. And we just had a pretty ugly weekly candle that erased the previous 2 weeks gains.
That doesn't mean it can't keep going lower. However, I can't help but see a potential inv H&S forming around the support zone ENS is currently retesting.
This trade is high risk and obviously depends on BTC finding support soon.
If it breaks, there's another possible reentry at the bottom trend line. But if the market turns bearish for alts, beware of catching a falling knife.
happy trads,
CD
That doesn't mean it can't keep going lower. However, I can't help but see a potential inv H&S forming around the support zone ENS is currently retesting.
This trade is high risk and obviously depends on BTC finding support soon.
If it breaks, there's another possible reentry at the bottom trend line. But if the market turns bearish for alts, beware of catching a falling knife.
happy trads,
CD
TA helped me spot the opportunity, but the fundamental driver here is that ENS domains are the new NFT craze at the moment :)