EOS-USDT possible pitchfork channel
Updated
Hello traders and investors!! 😄👋
I am looking to follow the light pink path and stay in this channel, but it is important to consider more scenarios. There is always the possibility that BTC suddenly crashes and makes this channel invalid, where we would then see EOS fall, possibly to even ~$5.
If we don't follow the latter, I am looking for possible entry at ~8.8 where our dashed yellow support line/50 fib retracement is located. If we fall below the dashed yellow support line, I am looking for next entry at around ~7.9 which would be the bottom of this channel. That being said, I would wait for confirmation that this is a valid channel, and that we do not break out of it before thinking of placing a buy order.
-As long as BTC can maintain in this zone of 54-57k or higher, EOS is a safe cryptocurrency to invest in.
-EOS hit an ATH back in 2018 of 23 dollars.
-EOS is a fast transaction blockchain network compared to many others out there.
Remember, wait until EOS is done correcting.👌
🛑🛑 This is not financial advice🛑🛑
Always keep a stop 🛑🤚💲 loss, and enter trades safely with proper precautions.
Jazerbay ☯
I am looking to follow the light pink path and stay in this channel, but it is important to consider more scenarios. There is always the possibility that BTC suddenly crashes and makes this channel invalid, where we would then see EOS fall, possibly to even ~$5.
If we don't follow the latter, I am looking for possible entry at ~8.8 where our dashed yellow support line/50 fib retracement is located. If we fall below the dashed yellow support line, I am looking for next entry at around ~7.9 which would be the bottom of this channel. That being said, I would wait for confirmation that this is a valid channel, and that we do not break out of it before thinking of placing a buy order.
-As long as BTC can maintain in this zone of 54-57k or higher, EOS is a safe cryptocurrency to invest in.
-EOS hit an ATH back in 2018 of 23 dollars.
-EOS is a fast transaction blockchain network compared to many others out there.
Remember, wait until EOS is done correcting.👌
🛑🛑 This is not financial advice🛑🛑
Always keep a stop 🛑🤚💲 loss, and enter trades safely with proper precautions.
Jazerbay ☯
Note
(3 minute chart)
If we can get beyond the resistance zone on this chart, I think we can reach top of pitchfan!! Let's see
Thank you 😄
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