jordymcnab
Long

EOS next jump incoming?!

BINANCE:EOSBTC   EOS / Bitcoin
A quick and easy trade idea coming out of EOS. We saw recent price action 2 days ago that resulted in a meteoric 48% rise. This in large part was due to the progress on the platform and the recent Dawn 3.0 launch. All great news coming from a major market-cap project.

Simple and easy we see a continuation pattern of an ascending triangle! Breakout with enough volume signals another wave incoming. The highlighted green area has been holding quite well as support and wave a previous resistance back in February. As we know resistance becomes support!

Look for resistance approaching the 12300 satoshi marker and again towards the 13000 satoshi marker as shown in red on the chart! If entering in the highlighted support zone this is a 10% and 17% earning potential respectively.

Disclaimer: Per usual, always keep and eye on BTC             as ultimately the market will react to any major abrupt movements from the King.

Happy trading! Feedback and comments is always appreciated.
Comment: We add a Disclaimer to each post talking about BTC because ultimately if BTC moves up quickly and alts will drop. If BTC drops alts will also drop. The market reacts to BTC and will break apart any trading idea.


Anyways, EOS has dropped through the first support zone and found support at the top of the ascending channel and is holding at the 10539 support zone that was marked.
We do appear to be forming a descending channel from the recent high but still holding below the upper part of the channel like before. Strong volume and breakout could be a signal of next wave.
w r o n g
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jordymcnab thelakesh0ww
@thelakesh0ww, Thank you for your feedback. It does not appear that you read the post so heres a ctrl + c for you:

Disclaimer: Per usual, always keep and eye on BTC as ultimately the market will react to any major abrupt movements from the King.

Guess what BTC did last night? An abrupt moment downwards.
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Nice chart, looks good.

I am thinking sorta the same idea:

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