Hi my friends,
It's my first analyse on EOS here and honestly, it have some important differences with other alts chart and BTC.
Firs of all this not meaning that BTC don't influence on it but as you see other alts chart you can see similar triangle and clear bear market in them but in EOS we have a big upward channel that have swings in it that influenced by BTC moves.
Second thing that is important is if you look at EOS log scale chart you see a downward channel that started from $23, but in linear chart it's more like a bullish wedge than a parallel channel.look at it :
If we want to consider log scale ,so we are in downward channel yet and couldn't break it yet,Actually we just touch its roof.in this stage again BTC can push it anywhere and EOS have not any announcement plan or new launch in calendar to help it pass this area.
As you can see in main chart of this idea we had a bullish wedge in RED that helped EOS reach here.
In indicators like RSI and MACD we have good signs now and we are above ichimoku cloud too.In EMA we can see EOS above EMA50 and EMA200 show reaction as a resistance in chart and EOS just touch it.
What another thing that show itself obvious in log scale is a potential iH&S that is in head forming stage now and that is't much reliable now.It's again up too BTC that what will happen but movement like chart bellow is likely.
In other hand and linear chart we had a bullish wedge instead of normal channel,i mentioned before.We bounce and broke this wedge already and we are in stage to test it as a support now.
As you see in linear that iH&S is less obvious and we have something like a cup here that can't be a cup and candle pattern and if is,it's a odd one.look at it:
After all i need to say that i am not really EOS trader or fan and need to dominate more on it,but i share all i find there,please give it a like if you like it and leave a comment for me to know your opinions and EOS market,better.
Good Luck
Peyman A
It's my first analyse on EOS here and honestly, it have some important differences with other alts chart and BTC.
Firs of all this not meaning that BTC don't influence on it but as you see other alts chart you can see similar triangle and clear bear market in them but in EOS we have a big upward channel that have swings in it that influenced by BTC moves.
Second thing that is important is if you look at EOS log scale chart you see a downward channel that started from $23, but in linear chart it's more like a bullish wedge than a parallel channel.look at it :
As you can see in main chart of this idea we had a bullish wedge in RED that helped EOS reach here.
What another thing that show itself obvious in log scale is a potential iH&S that is in head forming stage now and that is't much reliable now.It's again up too BTC that what will happen but movement like chart bellow is likely.
Good Luck
Peyman A
Comment:
Update here
