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WarrenBuffet66
Mar 30, 2019 6:32 AM

EOS 

EOS / DollarBitfinex

Description

Wouldn't consider buying until it breaks out the resistance line.
Comments
WarrenBuffet66
Despite bullish on EOS in the long term fundamentally, I am still being a little bit cautious with what the chart is showing me.

- The EOS chart looks really similar to what Bitcoin did during its accumulation phase in 2015 (when Bitcoin had a similar market cap as EOS today).


- Bigthumb's EOS wallet was just hacked, even though I don't think that's a big deal. But it could be adding fuels to the fire and decrease the likelihood of a breakout.
newsbtc.com/2019/03/30/was-bithumb-hacked-for-millions-worth-of-crypto-eos-blockchain-suggests-so/

- There are still lots of people who bought at reistance and would consider selling at breakeven on a first sign of reversal.

- We had 10 weeks of green upward price movement, might be time for some counter-force.

- Bitcoin looks like it setting up for a big move with its unusally low volality. (Queit before the storm). At this point, I woudldn't be surprised if it goes either way. If it breaks down, great, that's the final capitulation we have all been waiting for.




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