EOS BTC Short opportunity. March 30 2018

EOS is presenting us with a good short oppturnity. If you look at the VWAP (look up Brian Shannon Alphatrends to learn about this) This will act as resistance as something corrects. EOS is currently touching it and if we look at the big picture, and look at other alts. They all go down to the 0.786 - 0.883 fib levels.

I will keep an eye on this one on lower time frames to try get a good entry. Use a smart stoploss. We could get 50% BTC gains here. Expect bounces as it hits the fib levels. A good entry is key here, get that and it should make for a good safe trade.

This is the way VWAP acts when the price reaches it.

Note

Just to show the lil fight going on here. If you search EOS/BTC on here its a strong buy because people see triangles and things and think its going to moon. We are in a bear market. It might go up a bit, but it has the bear market side to play out.

Gonna get a cross on the 15min, bounce a bit, same with the 1 hr, bounce a bit, same with 4hr, 12 hr 1 day.. Might take a couple weeks but its gonna happen.

Note

I closed my short on this today. It has been like purgatory waiting for it to do something and along the way. What I have learned is don't be shorting alts when BTC is in an undecided mood. During this could of taken a 10% profit and probably 2 5%'s along the way. Then got into a 10% loss position, always worse when you are on the wrong side in margin. But Just closing it with tiny money and waste of time.

It looks like this on my 4hr, could break up, I think for that to happen, BTC needs to fall or keep this sideways action. If BTC is to rise then this will fall. But its all learning and that's the important thing.

Note

shorting alts vs BTC**

sykes

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sykes