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!
Commentaire:
Watch the sell box. If it breaks down it could be a good short
