🔥 May 7th-May 8th update on $ENA 🔥

It looks like ENA finally established a bull channel of its own. This is good especially if BTC confirms a bullish reversion.

Resistance is at $0.970-$1.010, since the frame is covering it.

🌳Ichimoku + PDI Analysis
PDIs are mostly neutral, around 50/70.
Ichimoku clearly shows a Bull Trend, no bear divergences for now, and a long-lasting Green Kumo, so the trend is expected to continue for a while.

Thus, Ethena is bullish as per these indicators.

🪙Bitcoin Today
Bitcoin is at a strong bull reversal point; the RMI Trendline Reversal Point.

May 7th-May 9th is decisive for what will be happening to BTC for the next two weeks. If a bull reversion does happen and breaches $65500 again, Ethena is for sure going to be supported by this move.

Shall BTC move below $62000, this reversal point is denied, and Ethena might follow BTC down.

It's a time to be watchful, as Bitcoin is currently in a decisive moment.

⚖️Trading Advice for Bulls & Bears
🐂: Feeling Bullish? Buy close to $0.918 (bull channel lower limit) to sell either at $0.990 resistance, or $1.020 bull channel upper limit.
🐂🔥: Feeling Extra Bullish? If you think BTC will turn bullish too and help Ethena out, or simply that Ethena will be supported by new investors/whales, for trading purposes, sell for no less than $1.020.
🎯A good Stop Loss for Bulls is within this Support, $0.859, given that if the price reaches this point, it has violated the bull channel.

🐻: Feeling bearish? Short within $0.990-$1.010 resistance to buy back either at the $0.890 support, or the lower channel limit, which will be ~$0.930 by the end of May 8th.
🐻🔥: If you feel really bearish, and you firmly believe BTC will be falling toward 54k, short to buy back for no more than $0.855.
🎯Good Stop Loss for bears is above the Channel Upper Limit, at ~$1.041.

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