EOSETH - ETH as capitulated and EOS did not
Updated
Looking at ETHUSD, we can clearly see a capitulation V bottom with a lot of volume. EOSUSD is still strugling to confirm support at about 4,5$.
In the meantime the EOSETH ratio is near all-time high.
I short this with a passion and I'll be putting my profit target reaaalllyyyy low on this one as I don't think the EOS bubble is over yet while the ETH bubble clearly is.
We are clearly due to retest the pink trendline, and I doubt it will hold. I'm not sure the 0.008 level will hold either.
No volume, Decreasing momentum.
One think to consider is this EOS trading pair is the least popular: EOSUSD and EOSBTC are far more popular.
Game on.
In the meantime the EOSETH ratio is near all-time high.
I short this with a passion and I'll be putting my profit target reaaalllyyyy low on this one as I don't think the EOS bubble is over yet while the ETH bubble clearly is.
We are clearly due to retest the pink trendline, and I doubt it will hold. I'm not sure the 0.008 level will hold either.
No volume, Decreasing momentum.
One think to consider is this EOS trading pair is the least popular: EOSUSD and EOSBTC are far more popular.
Game on.
Note
Logarithmic MACD is now on resistance and so is the daily RSI.Note
I have exited this trade as the opportunity cost is too high. I prefer to short EOSUSD than to short the ratio.
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