EOSUSD now retest long-term support line (green).
EOSBTC now in big falling wedge and waiting for breakout to 0.00132 level.
Soon we will see time to Long for alts market.
Current support very strong and this type of formation is classic for EOS (test support -> retest support -> bull run).
After this EOS can forming right shoulder in H&S pattern and going to hell like $2.6 - $3.3.
Often good opportunities looks like ugly prices. Now this moment.
Price need some time to accumulate, may be several days.
EOSBTC now in big falling wedge and waiting for breakout to 0.00132 level.
Soon we will see time to Long for alts market.
Current support very strong and this type of formation is classic for EOS (test support -> retest support -> bull run).
After this EOS can forming right shoulder in H&S pattern and going to hell like $2.6 - $3.3.
Often good opportunities looks like ugly prices. Now this moment.
Price need some time to accumulate, may be several days.
Comment:
EOSBTC falling wedge. Oscillations fade.
Comment:
In the last 3 days we see how the flow of sales is absorbed by investors in the market. This tells us that the mood is changing. Yesterday's takeover of the doji candle also shows that the probability of a market reversal is high. Especially near strong support.
In the chart below, I set the confirmation level of the current trading setup. Breakout this level with a high volume will mean that we will see a bull market.
In the chart below, I set the confirmation level of the current trading setup. Breakout this level with a high volume will mean that we will see a bull market.
Comment:
Safety level if you prefer limit-buy orders.
Comment:
Although in this market everything is going according to plan, I decided to post an update because we have the shake-up of weak hands in BTCUSD market.
Despite the fact that Bitcoin showed us a good selloff, the main levels remain in the game until price broke through the 6850 support, which I mentioned in previous posts.
EOS shows strength with respect to Bitcoin market. While it looks like a small break through a long wedge. But we must give the market time. Figures and patterns of thinking people who lasted 3 months did not change in a couple of days.
I expect that the EOS will show strength in the BTC market. And also that the current shake-up of the BTCUSD market was intended for weak hands to free the route to 9000.
Though to that that to the current prices can seem ugly. We still remember that we are close to the strong support of $6 - $6.5. So we have a high probability of reversal. And a long wedge in the EOSBTC market, which is already ready to break up.
Definitely current levels have a good possibility to opening swing position or adding to long-term position.
Despite the fact that Bitcoin showed us a good selloff, the main levels remain in the game until price broke through the 6850 support, which I mentioned in previous posts.
EOS shows strength with respect to Bitcoin market. While it looks like a small break through a long wedge. But we must give the market time. Figures and patterns of thinking people who lasted 3 months did not change in a couple of days.
I expect that the EOS will show strength in the BTC market. And also that the current shake-up of the BTCUSD market was intended for weak hands to free the route to 9000.
Though to that that to the current prices can seem ugly. We still remember that we are close to the strong support of $6 - $6.5. So we have a high probability of reversal. And a long wedge in the EOSBTC market, which is already ready to break up.
Definitely current levels have a good possibility to opening swing position or adding to long-term position.
Comment:
EOS just reached our target area to have a possible initiate longs with limit order.
But as you can see BTC broke 6850 key level that reset EW counter.
And we need to allow the market to show itself before being sure of opening a swing position. This means that the most secure will be to see the full candle that will pass through 7.26.
Nothing basically does not change, we are still at extremely attractive levels. Moving upward with force will show us the hand of the market and will reduce the risks, which is good. Moving downwards will allow you to enter part of the position at lower levels and increase the average RR.
The most optimal tactic in terms of uncertainty and good market location would be the buying a piece of swing position every $0.5 downward movement.
If we see a full bar, then we'll wait for a little pullback to add to our position.
But as you can see BTC broke 6850 key level that reset EW counter.
And we need to allow the market to show itself before being sure of opening a swing position. This means that the most secure will be to see the full candle that will pass through 7.26.
Nothing basically does not change, we are still at extremely attractive levels. Moving upward with force will show us the hand of the market and will reduce the risks, which is good. Moving downwards will allow you to enter part of the position at lower levels and increase the average RR.
The most optimal tactic in terms of uncertainty and good market location would be the buying a piece of swing position every $0.5 downward movement.
If we see a full bar, then we'll wait for a little pullback to add to our position.
Comment:
Bullish divergence and strong support on EOSBTC pair
Comment:
Waiting to open position on $4.67
Comment:
Despite the instability of these markets and signs of weakness, we are still looking for suitable conditions for opening new swings at these attractive levels.
Level $4.63 was not reached within hours after the last publication. At such times, we must pay attention to the price action.
We did not see signs of the strength of the bulls and the full bar. Instead, the price jumped uncertainly from the target level and continued its decline. This tells us that the probable levels of reverse may be lower. And the market takes time to prove its strength to us.
Now about the numbers. Bitcoin is now in an uncertain position, which can provide a small run up to $ 7,500. But movements of this type are difficult to predict and it will not be a good idea to open swings at current levels, although they are very attractive, as for all other alts.
Now I draw attention to the fact that for Bitcoin, the decline levels moved by $5,200 - $5,750. And that means that the rest of the market has all the chances for a decline.
The next levels we will be watching are $4.28 and $3.98.
If the price goes up from the current levels, we will not mind, because this rise will carry more risks than profits. Instead, we will allow the market to make our choice and monitor the price movement at interesting levels.
Despite the instability of these markets and signs of weakness, we are still looking for suitable conditions for opening new swings at these attractive levels.
Level $4.63 was not reached within hours after the last publication. At such times, we must pay attention to the price action.
We did not see signs of the strength of the bulls and the full bar. Instead, the price jumped uncertainly from the target level and continued its decline. This tells us that the probable levels of reverse may be lower. And the market takes time to prove its strength to us.
Now about the numbers. Bitcoin is now in an uncertain position, which can provide a small run up to $ 7,500. But movements of this type are difficult to predict and it will not be a good idea to open swings at current levels, although they are very attractive, as for all other alts.
Now I draw attention to the fact that for Bitcoin, the decline levels moved by $5,200 - $5,750. And that means that the rest of the market has all the chances for a decline.
The next levels we will be watching are $4.28 and $3.98.
If the price goes up from the current levels, we will not mind, because this rise will carry more risks than profits. Instead, we will allow the market to make our choice and monitor the price movement at interesting levels.
Comment:
What can we say about the pair with Bitcoin?
This market is inclined to show extremes not only in growth, but also in decline. Now just such a moment. Price broke through the line of the long descending channel and went into a steep peak.
This can tell us that the market is in the final stage of correction, when the crowd sells its positions at the lowest levels, and market makers allow them to do so.
Definitely, we should see a full bar at the nearest support levels. On the chart, I selected these levels.
What can we say about the pair with Bitcoin?
This market is inclined to show extremes not only in growth, but also in decline. Now just such a moment. Price broke through the line of the long descending channel and went into a steep peak.
This can tell us that the market is in the final stage of correction, when the crowd sells its positions at the lowest levels, and market makers allow them to do so.
Definitely, we should see a full bar at the nearest support levels. On the chart, I selected these levels.
Comment:
Key level $4.63 holds. Need to clear $4.84 for confirm bullish trend.
Trade active:
$4.84 broken with volume
Comment:
Just update. $4.23-$4.43 still holds. While this key level holds we still think about bullish scenario.
Just update. $4.23-$4.43 still holds. While this key level holds we still think about bullish scenario.
Comment:
Personally, I do not believe that we have a turn right now, looking at Bitcoin's monthly and weekly chart. Therefore, I will be cautious during any upward movement. And adhere to more conservative goals.
Like any other crypto market, EOS strongly depends on Bitcoin. And in this trade, we must take into account not only the technical aspects of the EOSUSD market, but also BTCUSD and EOSBTC too.
For Bitcoin, we are waiting for the touch of the level 4800-5200, on which the weekly MA100 is located and also several important support levels.
For a pair of EOSBTC, we expect to return to the main correctional channel and touch the uptrend line. And then at least the repeated testing of 0.000520 level, formed in March.
As events unfold, we will keep an eye on the most important levels and the way the market reacts. This will give an idea of the most likely price movement in the future.
Personally, I do not believe that we have a turn right now, looking at Bitcoin's monthly and weekly chart. Therefore, I will be cautious during any upward movement. And adhere to more conservative goals.
Like any other crypto market, EOS strongly depends on Bitcoin. And in this trade, we must take into account not only the technical aspects of the EOSUSD market, but also BTCUSD and EOSBTC too.
For Bitcoin, we are waiting for the touch of the level 4800-5200, on which the weekly MA100 is located and also several important support levels.
For a pair of EOSBTC, we expect to return to the main correctional channel and touch the uptrend line. And then at least the repeated testing of 0.000520 level, formed in March.
As events unfold, we will keep an eye on the most important levels and the way the market reacts. This will give an idea of the most likely price movement in the future.
Trade closed manually:
The price action shows signs of a short-term correction, so the current trade will be canceled. The next levels, which we will observe is the previous minimum of $ 3.84 - $ 3.92.
Comment:
Where do you think the price is going to go in the coming days?
Where do you think the price is going to go in the coming days?
Comment:
If you on this trade:
Blue line - hidden bearish resistance.
Green line - past uptrend support - resistance now.
Yellow figure - major resistance zone for bearish trend
Blue line - hidden bearish resistance.
Green line - past uptrend support - resistance now.
Yellow figure - major resistance zone for bearish trend