LewisGlasgow

EOS - Price Structure

Long
BITFINEX:EOSBTC   EOS / Bitcoin
Traders, I hope you're all having an excellent weekend.

EOS / BTC was requested by one of my followers and I found the price structure extremely interesting, therefore, I'd like to share my thoughts with you all.

The chart shown is on the daily timeframe .

Considering this asset only has over 5 months worth of price history, it has more to show than the vast majority of cryptocurrencies in the top 50.

As soon as EOS became available we experienced an impulsive move over several days, followed by a 96% decline.

Once the bottom was found during late October, price climbed over the period of 5 weeks amounting to a 386% increase.

We're currently experiencing a correction period which is less than 45% as we speak, I'm expecting price to drop to the support level indicated which would be a 51% correction.

This would be a key area to buy EOS in my opinion, at 0.00020000.

Feel free to contribute to this analysis, if you have anything to share leave a comment below.
Comment: In comparison to the EOS/USD chart, price has now re-tested the all time high and the support trendline is holding extremely well.

The price structure is similar, almost as if EOS/USD is a month ahead :)


Taking a position based on a close above the ATH and EOS/BTC reaching solid support would be a good move.
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Comments

Hey I would appreciate if you can share your thoughts on ADA !! Looks very promising.
+3 Reply
Would you please look at XLM(STELLAR)? Thanks
+1 Reply
@jeneoneo, I'll need to write a full post about STR, it appears to be entering a new major phase.

The analysis below doesn't explain a lot, to give you a full understanding the analysis would take a considerable amount of time to structure and explain correctly.

I'll try get some up for the new week ahead.

+2 Reply
jeneoneo LewisGlasgow
@LewisGlasgow, Thanks for sharing!

I saw XLM has tested resistance level several times, but failed to come up due to BTC dump in the past 2 days and now BTC started bump now.

Think most money might be going to BTC and make most altcoins stall. But really would like to see your sharing on
- BTC correlations with altcoins of the trend from now?(as BTC broke the previous ATH trend and might be going up to 20k which matches your previous BTC prediction phrase)
- what any altcoins in your analysis that are trending to breakout when BTC is heading for 20k?
Reply
jeneoneo LewisGlasgow
@LewisGlasgow, would you please look at and share the trend of ETH, LTC, Ethos, waves? Thanks
Reply
Sorry mistake in my post, the original analysis is on the 4h timeframe, not the daily.
+1 Reply
RoZeNbaL LewisGlasgow
@LewisGlasgow, Good price to entry? Thx for IOTA, profit +35% ;)
+2 Reply
@RoZeNbaL, amazing! You're welcome my friend ;)
+1 Reply
@RoZeNbaL, key entry price for me is 0.00020000.
+1 Reply
jbluebs LewisGlasgow
@LewisGlasgow, curious, do you trade only on TA, or do you also like the FA of EOS
Reply
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