SpartaBTC

EOS/BTC Channel Breakthrough.Triangle. Past idea EOS/USD +80%

BITFINEX:EOSBTC   EOS / Bitcoin
Breakthrough of the horizontal accumulation channel with a step of 23% that existed for more than 6 months.
Now a pullback and possibly a formation similar to a symmetrical triangle is forming above the channel. The target for the triangle is 18%.

The zone for observation and strong resistance is indicated in purple. Also, this zone is equivalent to the width of the former accumulation channel. As a rule, if there is no strong trend up / down movement, prices start lateral movement to the width of the previous channel ( rectangle ).

It is worth noting that with a high degree of probability we will test new support (the previous channel resistance).
If support is confirmed, then for a certain time the price will move sideways with a 23% step between the border of the previous channel and the zone indicated by purple.

If the price overcomes this zone (in purple) and fixes above it, this will mean a full trend reversal.

ENTRANCE
1) On a breakthrough or rollback after a breakthrough of a local downtrend line of the formation.
2) When confirming a new support (previous channel resistance).

An unlikely scenario.
When testing a new support (previous channel resistance), the price falls back to the previous channel.
Then trade in the channel, from the support zone to the resistance zone .
A safe purchase in such cases will be:
1) from the bottom of the channel.
2) above the channel resistance.

Stop loss
Under key support levels during your entry into the market.

LOCAL TARGET
1) in a triangle if it is formed + 18%.
2) from the re-test of support if confirmed + 23%.

The previous trading idea for this coin but in the pair EOS/USD which gave + 80% from the first entry point.
Which is still relevant for work.
EOS local downlink. Potential from + 50% Dec 6, 2019


We reached the entry zone a week later.



The first profit is slightly more than + 80%.

Comment: The triangle has broken up, the profit is now + 9%
Trade closed: target reached: +13%
Trade closed: target reached: Target taken + 19% Fixing above this zone will mean continuation of the trend
Trade active

Comments

thank you buddy
Reply
SpartaBTC ProjectSyndicate
@ProjectSyndicate, Good👍
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out