Hello Traders,
EOS seems to have been one of the weakest performing alt coins and has not yes broken resistance. The price looks like its trying to break resistance and has formed a massive symmetrical triangle on the daily.
Im bullish here. As with all symmetrical triangles wait for the breakout direction to be confirmed and then buy/sell into strength.
EOS seems to have been one of the weakest performing alt coins and has not yes broken resistance. The price looks like its trying to break resistance and has formed a massive symmetrical triangle on the daily.
Im bullish here. As with all symmetrical triangles wait for the breakout direction to be confirmed and then buy/sell into strength.
Note
This symmetrical triangle is bloody massive. Note
Hello Traders, Here is an EOS update. Looking at the weekly we can see bullish divergence on the RSI. I have also marked the last 3 bullish crosses on the weekly MACD. Each time the weekly MACD did a bullish cross the price has gone up 273%, 106% and 63%. The MACD has turned bullish and I expect the price will break up. As I have said previously, the best way to trade a triangle is to wait for the market to decide the breakout direction and then buy/sell into strength. Watch out for fake outs up/down. Note
Still no proper breakout. Note
EOS broke out upwards with conviction from the symmetrical triangle and also broke out past my resistance line of $4.50. If price can consolidate sideways here and hold the $4.50 price as support that would be further bullish confirmation. 
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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.