On the 4hours time frame, the price chart of EOSUSD has been spotted forming a continuation chart pattern called the bottom chart pattern.
The horizontal resistance is called the NECKLINE, which is very important while trading this 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:
Resistance 1: $3.1550
Resistance 2: $3.2423
Resistance 3: $3.3398.
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Ideas published should not be referred to as an investment advice.