NewMexCapital
Short

EOSBTC bear pennant and EOSUSD in distribution phase

BITFINEX:EOSBTC   EOS / Bitcoin
EOSBTC is printing a bear pennant and it has a hidden bearish divergence on the 3D RSI , CCI and Stochastic while EOSUSD is in the distribution phase and it's about to break the trading range.
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So according calculations for bottom BTC will be on $6666 when BTC bottom happen. Its little strange for correlation of this markets.
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artgen567 artgen567
* when EOS bottom happen sorry
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@artgen567, in our opinion btc will bottom, in the best case scenario, between 4900 and 5300. The more we stay in the triangle the less likely it is for the bottom to be close to us. A big move is coming because BB are getting tighter and tighter each passing day on the high time frames (3D and Weekly) and we believe that it will be to the downside. Altcoins USUALLY follow btc so we believe that they will be correlated.
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artgen567 NewMexCapital
@NewMexCapital, Ok Im just calc like this 2$ / 0.0003 btc = $6666 for btc
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@artgen567, We didn't look for a potential bottom on EOSUSD. The 2$ line is only a former resistance that can act as support if the price will reach that level.
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NewMexCapital NewMexCapital
@NewMexCapital, The bottom for EOSUSD could be much lower because in a downtrend EOS loses value to BTC and BTC loses value to USD so EOSUSD might go much lower than 2$ if btc reaches our first target for the bottom.
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artgen567 NewMexCapital
@NewMexCapital, Anyway there are so many bull shit ideas that thank you for this vision!
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