I use bitfinex exchange to analyze current moves. From the chart that I've shared, there is a white support that has already held the price since December 7th, 2019 and then it has broken out since August 14th, 2019. And since this break out, the price has never retest again the white as confirmed resistance. I believe the last 11 days rally is a part of phase 2 break out strategy which will end up at the white as confirmed resistance. In other side of fibonacci view, we can see the golden pocket zone is moving align with this previous support . and when the price touch this golden pocket zone, I will be very interested to enter short position for EOS. My targeted area for take profit will be on previous swing low which is around $ 3.2 will produce a good rr. The risk to reward is pretty affordable with sacrificing 2% loss to catch the significant 23% profit.
This is my premature elliot wave count for EOS. on smaller timeframe, one more possible wave up and I am ready to short.