Ok guys, I know that most of you are pretty bullish about EOS but let's get back to simple charting studying.
With 4HR candles, all the EMA (10, 70, 200) are STILL pointing downward. And EOS is still in a downward channel.
So what's next, two possibilities :
- As marked on the chart, with the green point, we have a possible breakout of the downtrend that would come in few days. If this happens, I will be bullish and it may push the price pretty high. That would happen in the days around Main Net launch, so FOMO may strike it.
- Otherwise, EOS could just fail to breakout from the downtrend channel + most speculators about Main Net will "sell the news". That would let the price slip down further and further. If so, I aim for the long term upward support.
On the purely technical part, we have :
- A MACD cross, that indicates an upward momentum BUT it's still below the 0 level, so let's see if it can break through.
- STOCHRSI is overextended in my opinion and should cool down a bit.
- Volume is not bad
So for this trade I'm not giving any targets, it will really depends of the breakout/rejection from the downtrend.
Feel free to comment and subscribe !
EOSUSD
With 4HR candles, all the EMA (10, 70, 200) are STILL pointing downward. And EOS is still in a downward channel.
So what's next, two possibilities :
- As marked on the chart, with the green point, we have a possible breakout of the downtrend that would come in few days. If this happens, I will be bullish and it may push the price pretty high. That would happen in the days around Main Net launch, so FOMO may strike it.
- Otherwise, EOS could just fail to breakout from the downtrend channel + most speculators about Main Net will "sell the news". That would let the price slip down further and further. If so, I aim for the long term upward support.
On the purely technical part, we have :
- A MACD cross, that indicates an upward momentum BUT it's still below the 0 level, so let's see if it can break through.
- STOCHRSI is overextended in my opinion and should cool down a bit.
- Volume is not bad
So for this trade I'm not giving any targets, it will really depends of the breakout/rejection from the downtrend.
Feel free to comment and subscribe !
EOSUSDTrade active
Potential double top here at the red line... Let's see if it breaks through :
Trade active
Breakout happened a few days ago, and EOS is still bullish !I expect it to continue it's rising until it reaches the long term upward trendline (around 19.5USD - 20USD IMO)
Note
EOS got back in the downtrend channel ! Back to the bearish mood, main net didn't managed to maintain the price above it.This trading idea had two possible outputs, seems that we know the final one :)
Selling pressure is really high, let's follow it. Trend is your friend boyz !
Note
We may see a bear flag forming here. If so, I except it to breakout in a few hours.Trade closed: target reached
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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.