There is some indication that the price could see another movement to the downside:
- Price is going up but the volume is not
- Bearish divergence on the stoch
- ADX has a negative slope (weakness in the current movement)
- Price is at a resistance level
Leave your opinions in the comments
Entry: LONG
Reasons:
- Currently in a local uptrend
- Oscillator goes downwards but the price doesn't, instead it's forming a range which could be interpreted as a bull flag
- ADX is showing a lack of strength in the downwards movement
Please leave your opinions in a comment bellow
Best regards
There's not much analysis going on here, just a simple prediction of what I THINK the price is going to do in the next hours/days. I EXPECT it to get to the ~8300 resistance level and near the 55 EMA (4H), and print a bearish divergence on the stoch oscillator.
We should let the price develop more and give us a signal to open a SHORT position.
No LONG positions...
Timeframe: 4H
Entry: LONG
Reasons:
- Hidden bullish divergence on the Stoch
- Price near support level
EOS is holding really well despite the recent drops in crypto
Recently, the price had a little pump taking us near the 10k level. However, this move had no volume whatsoever, and we are currently near a neckline, so I expect the price to go down.
Leave a comment.
Reasons for long:
- Hidden bullish divergence on the Stochastic on the 1HR timeframe
- Price near local support zone
- Main trend is bullish
Leave your opinion in the comments.
Looks like the price is beign squeezed in a descending triangle, and after such a huge move a correction wouldn't be too strange.
Target may be next supply zone at 8700-8300 range.
