tculia
Long

EOS Potential Outcome

BITFINEX:EOSBTC   EOS / Bitcoin
What I see on the 1HR chart:

- Could that be another bull flag forming there?

- Notice that wave (D) is currently fighting the diagonal resistance line I've drawn out. Will it break upward and run or will it retrace back to the diagonal support line? Only time will tell.

- Blue convergence line is still above red baseline which is a fairly bullish sign.

- Still trading above the kumo cloud which is a bullish sign. A strong test of the top of the cloud (Senkou Span A) can be seen (Wave C). Notice the strength of that bounce tho!

- In a bullish trend , the bottom of the cloud (Senkou Span B) will reveal a flat bottom kumo. Notice that it has done that twice now. Will we see a third?

- One thing to point out is that when the kumo cloud is thick, it becomes harder for price action to pierce down through it. It becomes much easier to break through (whether up or down) when the cloud is thin.

- RSI is showing that we are trading above 50% levels which also indicates a bullish trend is ongoing.

I am no financial advisor! Do your research before making any investments. PROTECT YOUR CAPITAL!

Mar 23
Comment: Bullish Pennant instead of flag. Sorry about that folks!
Nice. I like this a lot.
+1 Reply
i like the busy chart. ADHD friendly :) nice chart
+1 Reply
FYI - Those are bullish pennants not flags.
+2 Reply
tculia CryptoISO
@CryptoISO, nice, still learning as you can tell. Thanks for letting me know :D
Reply
May I suggest that you make the charts less busy. Don't post 10 ideas on 1 chart. Rather post two ideas on a chart then update with another two
Reply
tculia Wetdog544
@Wetdog544, I appreciate the suggestion, I'll keep that in mind for the following posts.
Reply
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