Bet most of us are not exactly happy with the altcoin situation right now. Last month btc was able to record almost 30% upward movement. Normally alts would rise at least the same percentage as btc, but this time we dint see it happening. Again and again and again alts except few ones failing to get some serious gains. Not a nice look but before we fall into depression lets look at the chart.
We can see that our 4hr chart is showing a nice bullish divergence. The price keeps getting lower but the downtrend is clearly losing momentum. Not so fast! Interesting situation is about to play out because btc already grew as i mentioned and we can see a bearish divergence forming on 4hr btcusd chart. Not sure but I dont remember a time when alts started reaching upwards while btc was falling down or altcoins keeping the same price while btc tanking. Thats what scares me a bit to be honest.
Despite all this I see theres a good chance we are about to witness the 3rd and the last leg of btc's bullish wave. This movement should start a positive eosbtc wave. Not exactly sure about the targets. Yes, 0,382 fib may be pretty ambitious but even 0,236 fib would be a nice little rain after an extensive drought.
The good thing is that we know the local bottom and looking at MACD theres not a lot of space to go lower. So a stoploss a bit under this temporary low seems legit. Will be really interesting how this plays out because of btc situation right now, but I think its a nice time to get into eos in particular. Maybe its just me but this coin in my humble opinion formerly acted as an alt catalyst and theres not a huge risk in this trade.
We can see that our 4hr chart is showing a nice bullish divergence. The price keeps getting lower but the downtrend is clearly losing momentum. Not so fast! Interesting situation is about to play out because btc already grew as i mentioned and we can see a bearish divergence forming on 4hr btcusd chart. Not sure but I dont remember a time when alts started reaching upwards while btc was falling down or altcoins keeping the same price while btc tanking. Thats what scares me a bit to be honest.
Despite all this I see theres a good chance we are about to witness the 3rd and the last leg of btc's bullish wave. This movement should start a positive eosbtc wave. Not exactly sure about the targets. Yes, 0,382 fib may be pretty ambitious but even 0,236 fib would be a nice little rain after an extensive drought.
The good thing is that we know the local bottom and looking at MACD theres not a lot of space to go lower. So a stoploss a bit under this temporary low seems legit. Will be really interesting how this plays out because of btc situation right now, but I think its a nice time to get into eos in particular. Maybe its just me but this coin in my humble opinion formerly acted as an alt catalyst and theres not a huge risk in this trade.