On the 30min chart there is more volume for movements up and less for movements down. With the price moving close to a massive resistance it gives me the perception that a breakout is imminent.
I see a test of resistance before a retrace towards support.
My math side took over when I saw this path and decided to do the only rational thing and reverse it.
Bullish divergences short term expecting a run up to 7050-7150. Placing shorts anywhere above 7000.
Take a look at my new falling wedge. Continuing to scale back in to AION ever since the continuation of the downtrend was established.
I outlined the three triple bottoms in different colors.
If we look at the RSI trend line there are two potential places we can head, either down to .00027 (.786 Fib Retrace) or we can break the wedge and RSI resistance and head to .000365.
There is resistance at $7600 and $7750. I expect to move up to $7750 before we fall out of rising wedge and head down towards $6500
Seeing a downward trend that will probably bounce
Expect a slow fall to the .786 fib levels before a bounce. I expect this pattern to play out over a 3 Month Period
Everything is aligned for the bulls, but the time to move money into a long position is right after the MAs cross again.
Expecting a rise after a completion of the second pennant.
Currently we are holding at .618 Fib level. I currently won't be putting money into gold until a long term sideways market ends. According to my supports and resistances I expect important moves during May-August.
If EOS doesn't dip short term very quickly to the .5 Fib retracement, then I expect a downward breakout to the .5 outside of the wedge and then a further dip. If Eos can dip short term then that would indicate Bullish potential.
Looks like a quick knife catch over the next few days.