ThinkingAntsOk

Top And Bottom Analysis "EOS/USD" by ThinkingAntsOk

BITFINEX:EOSUSD   EOS / Dollar
4HS CHART EXPLANATION:

a) Price is inside an Ascending channel since December 2018
b) Currently, we can see a small channel (dot lines) in which we will wait to see the resolution of that structure, we think it can bounce on the Ascending trendline or in the support/resistance zone.
c) we will only look for long setups above 7.9450 because at that level the current structure would be discarded as bearish formation.

Based on that if the price breaks up above 7.9450, we will be looking for long setups towards the next support/resistance level at 9.6850


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