EOSUSD (EOS) - WEEKLY ANALYSIS ANALYSIS 🔎
- This is a double trade setup.
- EOSUSD is printing a major double bottom pattern.
- This is a bullish reversal pattern.
- At the right bottom, price action is printing a minor inverse head and shoulders pattern.
- This is also a bullish reversal pattern.
- RSI is also printing a bullish divergence signal.
- EOSUSD could be on the verge on a Long term uptrend.
FIRST SETUP
- This setup is the minor inverse head and shoulders pattern formation on the right bottom.
- This is a trend reversal pattern
- Bullish pattern to be precise.
- Price is approaching the inverse head and shoulders neckline resistance (1).
Buy entry ⬆️:
Aggressive (risky) - current market price (now).
Conservative - breakout above the inverse head and shoulders neckline resistance (1).
Targets 🎯: horizontal resistance level R2, horizontal resistance level R3 (neckline resistance (2)).
Setup invalidation ❌: breakdown below the right shoulder's horizontal support level (S1).
SECOND SETUP
- This setup is the major double bottom pattern.
- This depends on a successful outcome of the first setup.
- Price will be testing the double bottom neckline resistance (2).
- Potential breakout above the neckline resistance (2).
Buy entry ⬆️: breakout above the double bottom neckline resistance (2).
Targets 🎯: horizontal resistance level R4, All Time High (ATH) resistance, MOON🔼.
Setup invalidation ❌ - Breakdown below the All Time Low (ATL) horizontal support level.
Enjoy 🥂
