EOS/BTC: Potential Bounce
EOS dove off a cliff a couple days ago, falling from the support that had held for a little over 2 months around the 0.0008 area, dropping to roughly 0.0005
It appears some historic support here is acting as a spot for EOS to bounce, referencing out the support from December 2017, this would be the red line on the chart.
Checking out the 0.00066 area was support turned resistance, as that would be the next target/level for EOS to clear if to continued to run up.
If EOS snapped back into range I would expect it to continue to range between roughly 0.0009 and 0.0007 (purple lines on the chart)
Not enough conviction/volume/momentum for me to long here, I think there could be more downside at the beginning of 2018.
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
It appears some historic support here is acting as a spot for EOS to bounce, referencing out the support from December 2017, this would be the red line on the chart.
Checking out the 0.00066 area was support turned resistance, as that would be the next target/level for EOS to clear if to continued to run up.
If EOS snapped back into range I would expect it to continue to range between roughly 0.0009 and 0.0007 (purple lines on the chart)
Not enough conviction/volume/momentum for me to long here, I think there could be more downside at the beginning of 2018.
No longer posting links in trading view descriptions, but you can find my twitter in my trading view profile bio. I have a discord group which can be found on my twitter.
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