EOS - Bear flag formation give us buy options
Hi everyone,
I already published an analysis on EOS, when the price was fully inside the pitchfork since the lows of December. That analysis is still valid and I am going to quote those buy entries:
"2 possible entries: 5.74 and 5.46"
The price went crazy for EOS, escaping the pitchfork and heading North, but as we know, nothing can go up forever. The price went back into the pitchfork and now is drawing a bear flag pattern. According to the theory, we could see a move similar to what I point as target B. There is support there that would match with the pattern target. However, that would violate very much the pitchfork, south way this time.
If the trajectory we have been in has to continue, the target then is more likely to be the point A, where I personally have buy orders. Funny enough, that is the same price range that I considered reasonable from my previous analysis. Although, if the market sinks further more, we could see EOS prices around 4.5 USD.
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
I already published an analysis on EOS, when the price was fully inside the pitchfork since the lows of December. That analysis is still valid and I am going to quote those buy entries:
"2 possible entries: 5.74 and 5.46"
The price went crazy for EOS, escaping the pitchfork and heading North, but as we know, nothing can go up forever. The price went back into the pitchfork and now is drawing a bear flag pattern. According to the theory, we could see a move similar to what I point as target B. There is support there that would match with the pattern target. However, that would violate very much the pitchfork, south way this time.
If the trajectory we have been in has to continue, the target then is more likely to be the point A, where I personally have buy orders. Funny enough, that is the same price range that I considered reasonable from my previous analysis. Although, if the market sinks further more, we could see EOS prices around 4.5 USD.
*Not financial advise, just sharing my ideas :)
Feel free to give your feedback/opinion. Thanks for reading!
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