You Don't Have to Love it to Long it - EOS! (EOSBTC)
Hello Friends!
Our last EOS analysis was just a bit of playing around with Fib Times, and an update on EOS was requested so I figured I would sit down and do a real analysis on it.
As you can see, EOS is trying to establish itself with some ascending support, and a strong reaction from there in Nov/Dec 2018 resulted into an uptrend that carried us all the way to April of this year. Since then, EOS has been correcting and having bounced once off the 62% retracement, I think now it is looking to give one more opportunity to buy there, around 7000 - 7500 satoshi, before continuing upwards.
The support here is pretty clear, so a stop loss can be easily defined by a break below the fib channel to which I've added the red sell box.
If the bullish scenario plays out, hopefully EOS will see a reaction to the .886 or 100% fib time zone, and trend upwards to a breakout of the 50% fib resistance (red line under the buy box)
The dotted line/arrow, is what I believe to be the most probably scenario. Either way, a breakout or breakdown is easily and clearly defined on EOS now, all we have to do is wait...
So, you can either buy on a retouch of 62%, or on a breakout in the green box. Then, a stop loss can be set most likely a bit under 7,000 satoshi.
Good luck traders!
Our last EOS analysis was just a bit of playing around with Fib Times, and an update on EOS was requested so I figured I would sit down and do a real analysis on it.
As you can see, EOS is trying to establish itself with some ascending support, and a strong reaction from there in Nov/Dec 2018 resulted into an uptrend that carried us all the way to April of this year. Since then, EOS has been correcting and having bounced once off the 62% retracement, I think now it is looking to give one more opportunity to buy there, around 7000 - 7500 satoshi, before continuing upwards.
The support here is pretty clear, so a stop loss can be easily defined by a break below the fib channel to which I've added the red sell box.
If the bullish scenario plays out, hopefully EOS will see a reaction to the .886 or 100% fib time zone, and trend upwards to a breakout of the 50% fib resistance (red line under the buy box)
The dotted line/arrow, is what I believe to be the most probably scenario. Either way, a breakout or breakdown is easily and clearly defined on EOS now, all we have to do is wait...
So, you can either buy on a retouch of 62%, or on a breakout in the green box. Then, a stop loss can be set most likely a bit under 7,000 satoshi.
Good luck traders!
Note
Watch the sell box. If it breaks down it could be a good short
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Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.