Update levels and situation for EOSUSD and EOSBTC.
We have BTCUSD market where we see bears still strong.
Target level for BTCUSD is 6800-6900 and technical 6500 support (less possible because buyers already here on 7200).
Another side we have EOSBTC market, that shows signs of strength (breakout of falling wedge) and forming now downtrend channel.
EOSBTC can reach 2 ways:
1. Retest and forming higher low (good trade setup) around 0.00145 - 0.00147
2. Go deeper to 0.382 fib level around 0.00129 - 0.00130
So. We have 2 possible targets for EOSUSD market - around $10.09 if EOSBTC will show strength or around $8.91 if EOSBTC will fail.
Why 1st possible?
* EOSBTC shows signs of strength
* EOSUSD have long term log-chart support trend-line around $10.1 (blue line on the chart)
Why 2nd possible?
* Bubble runs most likely have correction around 0.382 levels (almost always).
* Now on EOSBTC we just touched 0.5 fib level and 0.382 still in the game.
Just for fun. Im trying to paint 2 possible ways for consolidation before serious run.
EOSBTC targets image:
Commets are welcome.
We have BTCUSD market where we see bears still strong.
Target level for BTCUSD is 6800-6900 and technical 6500 support (less possible because buyers already here on 7200).
Another side we have EOSBTC market, that shows signs of strength (breakout of falling wedge) and forming now downtrend channel.
EOSBTC can reach 2 ways:
1. Retest and forming higher low (good trade setup) around 0.00145 - 0.00147
2. Go deeper to 0.382 fib level around 0.00129 - 0.00130
So. We have 2 possible targets for EOSUSD market - around $10.09 if EOSBTC will show strength or around $8.91 if EOSBTC will fail.
Why 1st possible?
* EOSBTC shows signs of strength
* EOSUSD have long term log-chart support trend-line around $10.1 (blue line on the chart)
Why 2nd possible?
* Bubble runs most likely have correction around 0.382 levels (almost always).
* Now on EOSBTC we just touched 0.5 fib level and 0.382 still in the game.
Just for fun. Im trying to paint 2 possible ways for consolidation before serious run.
EOSBTC targets image:
Commets are welcome.
Note
Show you EOSBTC downtrend channel with possible targets.Note
MA 1H crossing till the next 12 hours. This means that week-perod crossing important event. Market should decide go upper or go down.There is a many signs of a both variants. Will see.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.