imfamousrajat

EOS - MOVING INTO BUY ZONE, BULLISH DIVERGENCE!

Long
BITFINEX:EOSBTC   EOS / Bitcoin
EOS has been falling 6 June. The price has depreciated by 52%. At the moment, EOS has found support around 100k satoshi level and had a good rebound.

EMA (9) smoothed over RSI has generated a Buy signal on 4-H TF.

A look at the MACD:

Currently, it is moving under EMA (26).

Moving closely to EMA (12).

The first profit taking target can be 0.236 Fibonacci level. The Risk/Reward ratio is: 5.43 which makes this trade a really great one.

You can wait for it to break the resistance of the wedge too before opening any longs.
(I can post the chart with in depth analysis using indicators if people need it, but as for now, this should suffice.)

P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.

Keep an eye out. Trade safely. Always remember, money not lost is also a profit.

Good luck trading.!
Peace.
Comment: BTC Plummeting due to this and the whole market is taking a hit. Trade with care.
There may be some absurd movement in price so watch out.!

1> https://www.sec.gov/news/public-statemen...

2> https://www.sec.gov/rules/other/2018/34-...
Comment: Rejection from the upper boundary of the wedge.!

Related Ideas

Comments

Here is what I think will happen. Buy zone is 914-916 Enjoy! :)

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Great chart series. Yeah shame I like EOS too.

If your interested in joining the latest Tradeio exchange to trade crypto then try "https://trade.io/l/egrw". Awesome new interface and features.
Reply
u are good man thank you
Reply
What's your ideal Buy Price in the Short-term? Your Chart suggests 97000 Sats...you still feel it's drop that low?

Thanks :-)
Reply
Great stuff. Thanks. We seem to be on the same page :-)
Reply
imfamousrajat mhfcrypto
@mhfcrypto, Thanks, man. I made this chart when it was in 97k-98k range but couldn't post it. The ideal buy in may be anywhere around 100k Sats. Also, it is moving close to the resistance now, so it's not a good time to buy in now. Either wait for it to drop more or buy in when it breaks out of the resistance zone.
Reply
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