Hello crypto friends!
Yet another very good Breakout play potential if you didn't catch the perfect C&H plays with BAT or BNB today: EOS/USD on the 4H.
We have currently a resistance box going from 5,6 to 5,76 with the wicks. So if you wanna play this, you gotta be careful. You can in this case ladder your entry, instead of putting all eggs in one basket/order.
Strong case: We reached this zone at the beginning of April already, so the bulls coming back again shows: we ain't givin' up. But that's just a probability: we can any time also break bearish out of the EQ at 5,46-41, where we would have at least downward potential to 5,2.
Take Profit (TP): 6 Dollar psychological. We could consolidate here a bit, and either reject again, or this time, break higher to 7 Dollars. So for that scenario, you can again, take partial profit, instead of putting all eggs in one basket.
Yep, trading ain't easy and needs active management, esp. in crypto space, where we have fake-outs going on right and left. But it's important what the market sentiment is: In this case, even though the resistance zone is not clear, we have a strong bullish uptrend already since the lows at 1,5 Dollars in December.
Grandpa Bitcoin should also be helpful or at least stay neutral for this scenario: We are currently grinding at 5.300: Should we break the zone towards the November $5,7k wall of S&R zone, this could be green light for EOS to break the 6 Dollars. In the direct correlation of EOS/BTC we're still very nicely upholding 0.10. Should we break .11 resistance, we could look towards 0.12, a solid 10% higher which could equal to 7 Dollars.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
If you don't know how to put your triggers, how to calculate your stop loss or take profit all by yourself: Edgy is providing you exactly this knowledge. But we are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Yet another very good Breakout play potential if you didn't catch the perfect C&H plays with BAT or BNB today: EOS/USD on the 4H.
We have currently a resistance box going from 5,6 to 5,76 with the wicks. So if you wanna play this, you gotta be careful. You can in this case ladder your entry, instead of putting all eggs in one basket/order.
Strong case: We reached this zone at the beginning of April already, so the bulls coming back again shows: we ain't givin' up. But that's just a probability: we can any time also break bearish out of the EQ at 5,46-41, where we would have at least downward potential to 5,2.
Take Profit (TP): 6 Dollar psychological. We could consolidate here a bit, and either reject again, or this time, break higher to 7 Dollars. So for that scenario, you can again, take partial profit, instead of putting all eggs in one basket.
Yep, trading ain't easy and needs active management, esp. in crypto space, where we have fake-outs going on right and left. But it's important what the market sentiment is: In this case, even though the resistance zone is not clear, we have a strong bullish uptrend already since the lows at 1,5 Dollars in December.
Grandpa Bitcoin should also be helpful or at least stay neutral for this scenario: We are currently grinding at 5.300: Should we break the zone towards the November $5,7k wall of S&R zone, this could be green light for EOS to break the 6 Dollars. In the direct correlation of EOS/BTC we're still very nicely upholding 0.10. Should we break .11 resistance, we could look towards 0.12, a solid 10% higher which could equal to 7 Dollars.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
If you don't know how to put your triggers, how to calculate your stop loss or take profit all by yourself: Edgy is providing you exactly this knowledge. But we are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
