EOSBTC Emerging 1D Death Cross

The pair has been consolidating this past month around the 1D MA200 (orange trend-line) and below the 1D MA50 (blue trend-line). A Death Cross is close to forming on 1D (when the MA50 crosses below the MA200) and that is consistent with all price actions prior to such Crosses since the April 2018 market top.

Every 1D Death Cross has made a Lower Low within the 1.236 - 1.382 Fibonacci extension zone. Currently that is just above 0.00005. Do you think that is a realistic target?

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poor shitcoin πŸ˜“πŸ˜₯😹
+2 Reply
Nice catch, love your simple clear price action repeatable patterns. Keep it up :)
+2 Reply
I know very little about trading but doesn't this look like a long term breakout and retest?
+1 Reply
Great work
At the same time,Its far lagging by the time cross comes , more than half, in some cases almost reversal is about to occur.
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Do you think EOSUSD is going to drop even more? weekly candle about to close in a positive way, either eos goes down even further or btc will have a serious boom if the above case would prove accurate
+1 Reply
PollysCracker PollysCracker
@TradingShot, well well, Looks like EOS proved quite the indicator for BTC, impecable timing on your call, very nice indeed.
Good catch, but don't believe it will happen - given that bullish is being funded with a market cap of over $10 billion - and they are on track to open the exchange in fall.
On the other hand, even if a death cross does come to pass, if BTC moves up - alts move up. Regardless of whether we like this coin, it is going to go up.
I hate this shitcoin
Loving it!