EOS exploded off the 3.75 bottom and put in 5 waves up to 6.30. It then started what looked like a normal ABC correction in red. Yes the B wave went a touch higher than wave 5 but extended flats are not that uncommon. I would expect wave C to reach between 4.90 and 5.20 where we can reenter. HOWEVER the B wave was so explosive and EOS could be consolidating in a triangle, which has 2 small waves to go before a breakout.
A breakout here would be incredibly bullish as starting another leg up now with BTC on its 5th subwave of wave 3 would set EOS up to put in 2 complete 5 wave impulses bringing it to about $10 while BTC makes its way up to 10200 before a big correction (my read of course, no guarantee any of my counts are gonna hold...even though they have all been right thus far).
GL trading
A breakout here would be incredibly bullish as starting another leg up now with BTC on its 5th subwave of wave 3 would set EOS up to put in 2 complete 5 wave impulses bringing it to about $10 while BTC makes its way up to 10200 before a big correction (my read of course, no guarantee any of my counts are gonna hold...even though they have all been right thus far).
GL trading
Note
EOS has broken out of the ascending triangle and is currently on a small retrace off of 6.40 where it took a breather as BTC stalls on its climb. EOS is just exploding up every time BTC makes a small move up so I expect it to surpass $7 today, well on its way to clearing $10 over the course of the next week or 2.Note
WOW, simple answer YES EOS CAN BE THIS BULLISH...EVEN MORE SO. After a BTC dip EOS absoluely exploded up moving 80cents or nearly 15% in 1hr. Looks like the 3of3 is underway and EOS is flying
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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.