EOSUSD: Probably The Best Buy Opportunity

From my point of view and based on Technical Analysis, the weekly timeframe of EOSUSD provides probably the best buy opportunity for the long run. The price bounced from the support zone formed by the uptrend line and 3.00 support level. The bullish candle confirms the price reversal. The same goes about RSI. MACD histogram supports the further upward movement. What can we see also? We see an attempt to break the downtrend line. If a new weekly candle is closed above this line, we will get a confirmed breakout signal. But even now we can use a breakout, just we don't have an additional signal confirming this signal.

Anyway, there are two possible entry levels for buying, which are clear now. The 1st entry level is above the high price of the signal bullish candle. Pending orders for buy can be placed at 3.70 level. The 2nd entry level is based on a local swing high and 4.50 resistance level. If the market moves upward, the breakout above 4.50 will confirm the uptrend and the strength of buyers. This signal can be used for safe buying or for adding more trade volume to the long trades opened based on the 1st entry level.

For both trades, stop orders must be placed below 2.20 or below 1.50 levels. It depends on your attitude to risk size. The main profit target should be at 8.50, and the higher resistance can be used for fixing profit too.
The market reached the bottom, and buying for the long run looks logically. At the same time, if Bitcoin moves downward, this market will have good chances to make a new bottom, which can be not far from 0.50 support.