Wave Analysis - ENA (12H)ENA / TetherUSBINANCE:ENAUSDTvs_sayinLet's start with what we have. You're looking at a big correction to the upside after months of continuous dumps. That dump era is over and currently ENA is creating an ABC pattern. In the future, we may relabel it as an impulse. For the moment, it's best to assume that it's a zigzag ABC. When you examine the chart, you'll easily notice that a five-wave impulse move has already finished. What we see right now is an inner ABC wave which is still developing. The reason is: if larger-degree wave A has a five-wave impulse, there is no other choice than a zigzag type of correction for ABC. For this exact reason, larger wave B (green one) will be a three-wave move (A-B-C). The orange wave C is going to be the exact place where the money printing starts. That zone has a lot of confluence. Since there is an obvious demand zone nearby, most likely traders will put their stop-losses below that green box. Which means, they will be hunted. But that's not all. There are 3 more technical reasons why larger (green) wave B should end there: Fib ratio: If you simply draw a Fib retracement tool from the beginning of the move to the last high, you'll end up with the same levels as mine. Wave B usually targets the 0.50 to 0.618 zone, known as the golden pocket. Also, wave B tends to test the low of the previous inner wave 4 of larger wave A, which is the exact same area. Fib extension: Inner waves must be counted too. Orange inner wave A represents orange wave C's potential targets. Simply measure wave A to B and you'll end up seeing the most likely targets for C, which are again in the confluence zone. Volume imbalance: There is a volume profile on the right side of the chart. What you see is a large gap due to the extreme run of previous wave (3). That gap is likely to be a touch point and again, it's in the same confluence zone. Wave C's target is going to be the "easy" problem to solve. Once wave B is finished, rest will be way more easier. Combining confluences gives you reasons to believe. And in this case, you need to believe.