gumbyguy
Short

Quick EOS Short to Hedge your Long

BITFINEX:EOSBTC   EOS / Bitcoin
EOS has been forming a rough 3-month falling wedge and currently is curling down from the upper trend line resistance at 0.00105. However, it is very close to the convergence point of the resistance and support lines, so we could see a violent upward reversal. Also, there appears to be bullish divergence on the RSI , hinting at a move upwards.

My strategy: I bought EOS at 0.001 but am hedging with a margin short.
Stop the short at 0.0011
Close at the bottom of support 0.00097
or hold and wait for it to fall through
Comment: Still holding my EOS and maintaining my short. Watching RSI to see if we get another higher low on the indicator and lower low on the price, which is a bullish signal
Comment: Closed my short at 0.00095 for a profit. Still holding my spot EOS
Yass exactly what I've been saying :) Good analysis.
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