Where Are The EOS Bulls At? - Breakout Is Imminent
Two charts that explain why I'm super bullish on EOS/BTC
1)
- The EOS price has broken out above 40k satoshis on January 14, and the rally lasted until February 14. Since then, the price has returned and avlidated the breakout level. This is a very common movement that leads to another upward move the majority of the cases.
- In addition, there is even more support given by the 200-day MA. The price has reached it twice and created long lower wicks each time - another bullish sign.
2)
- The 6-hour chart is also bullish and shows a descending wedge that has been created (bullish reversal pattern).
- In addition, the RSI has generated significant bullish divergence throughout this pattern.
- All of this is happening inside a crucial support area, so a breakout feels at hand.
- The first & second targets are at 46,000 & 53,000 satoshis.
1)
- The EOS price has broken out above 40k satoshis on January 14, and the rally lasted until February 14. Since then, the price has returned and avlidated the breakout level. This is a very common movement that leads to another upward move the majority of the cases.
- In addition, there is even more support given by the 200-day MA. The price has reached it twice and created long lower wicks each time - another bullish sign.
2)
- The 6-hour chart is also bullish and shows a descending wedge that has been created (bullish reversal pattern).
- In addition, the RSI has generated significant bullish divergence throughout this pattern.
- All of this is happening inside a crucial support area, so a breakout feels at hand.
- The first & second targets are at 46,000 & 53,000 satoshis.
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