BlackSwan_DAR
Short

EOSUSD is at a crossroad

BITFINEX:EOSUSD   EOS / Dollar
Hello guys,
EOSUSD is in a very precarious situation. If prices are not able to rebound from the actual level, the likelihood is very high it comes back to around 6 USD. At the moment price is near the trend line supporting the bull trend started during November, 2017. It's a critical point. If we analyze EOS against BTC on a daily chart , we see it's in touch with the 200 daily MA, usually representing a strong support. The advantage to entry at this level is that the stop loss is very narrow and it must be put under 7.3 USD.
Indicators and volume point out a possible fall because the firsts are set to go down instead volume is quite low, showing poor interest.
If EOSUSD is able to react is possible to see it back to 9 USD in brief time, where passes the upper trend line linking the highs descending from the hystorical top. But if it breaks 7.3 USD (S1) is likely to find it at 6.4 USD (S2) as first level and then 6/5.9 USD (S3) (in my opinion, at the moment, the most probable scenario).

To sum up:

- if it breaks S1 7.3 USD----> S2 6.4 USD----> S3 6/5.9 USD,

- if it's able to react from current price of 7.53 USD it can come back to 9 USD.


***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***













Comment: Short signals is triggered

Comments

Strategy closed during the night at 6.78 USD due to the resiliency compared to BTC
Reply
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