alanmasters

Eidoo Completes Its Retrace | 89%+ Comes Next!

Long
BINANCE:EDOBTC   None
3 Weeks ago Eidoo ( EDOBTC ) made a nice move which we caught in full... You can see it here:
After this move, a strong retraced followed and it seems it already came to its end.

  • 0.786 Fib. retracement from the last wave has been touched. As soon as this level was hit, a very strong, high volume bounce happened.
  • EDOBTC moved pass EMA10 and is now challenging EMA50 (Daily candle close is needed for confirmation).
  • The MACD and RSI are starting to curve.

The chart above makes it even easier to understand... Let me explain!

Here we have a bullish chart with bullish signals developing as I write this... But the charts are always changing.

If EDOBTC moves below the bold blue-dashed line, then the above signals have been invalidated and it can move lower. But if it stays above this level, it can consolidate and continue with its move up.

The red-dashed line at the bottom is the last low before the bullish move. Anything above this level and we have a higher low.

If the last peak (0.00005999) is taken out in this new move up, we are looking at a higher high... Which is what we should aim for if we want to see continued growth.

This is not financial nor trading advice...

Thanks a lot for your continued support.

Namaste.
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