Hi crypto community, looking on the daily chart of EOSUSD pair, we see no got signs in the big picture at all. We falled down from the support at 17 USD with high momentum and high volume. This is a huge factor witch cant be ignored! We do not see much bull momentum here at all, witch in my opinion is a sign that we could fall more now, some people thought that this was the bottom at around 13.5 - 14.5 but in my opinion it wasnt.
There is a bigger bear-flag forming on the daily chart now, witch when it breaks down targets the area at 9.5 - 10.5, this is the technical target for the bear-flag.
We should see a decend pull-back to previous support. For now it is not sure! We could fall more from the 9.5 - 10.5 area!
I am bearish on EOS now, the fact that it pumped high and pulled back strongly now isnt a very good sign for continuation of the bulls. We falled down support, above us is the 20 EMA witch you can see on the chart in purple, we breaked this EMA and under us is the 50 EMA in black. WHen we could not hold that level more downside is likely!
Lets see what happens now to EOS, i am looking for the bottom, before i place any buy order here i need to see clear bullish signs on the chart, without that i am still bearish.
Happy trading!
There is a bigger bear-flag forming on the daily chart now, witch when it breaks down targets the area at 9.5 - 10.5, this is the technical target for the bear-flag.
We should see a decend pull-back to previous support. For now it is not sure! We could fall more from the 9.5 - 10.5 area!
I am bearish on EOS now, the fact that it pumped high and pulled back strongly now isnt a very good sign for continuation of the bulls. We falled down support, above us is the 20 EMA witch you can see on the chart in purple, we breaked this EMA and under us is the 50 EMA in black. WHen we could not hold that level more downside is likely!
Lets see what happens now to EOS, i am looking for the bottom, before i place any buy order here i need to see clear bullish signs on the chart, without that i am still bearish.
Happy trading!