PrimeXBT
Long

EOSUSD- near upside.

BITFINEX:EOSUSD   EOS / Dollar
The crypto market is seeing some price bounce a bit to the upside, But we still stick this bounce won't last for too long.
On the 4hours time frame, the price chart of EOSUSD has been spotted forming a bullish continuation chart pattern called the HEAD and SHOULDERS bottom chart pattern.
The horizontal resistance is called the NECKLINE, which is very important while trading this head and shoulders pattern.
Head-and-shoulders bottoms are reliable chart patterns that sport a low failure rate and good average rise.
The pattern confirms as a valid one when price closes above horizontal neckline. Price must have something to reverse, so if the decline leading to the pattern is small, expect a small rise.
The levels to keep an eye on are as follows:
Breakout: $3.1096
Resistance 1: $3.1550
Resistance 2: $3.2423
Resistance 3: $3.3398.
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
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