In my chart provided you can see that EOSUSD formed a massive ascending till it broke out on 26th june. EOSUSD touched three times the lower line and four times the upper line of the ascending till it broke out with massive over average. I used blue to mark the ascending , you can see it in the chart. Also EOSUSD moved for almost 201 days in the ascending till the break-out happened.
EOSUSD made a bear-flag before the break-out and is about to make a second bear-flag and confirm the lower line of the now, after the confirmation it is highly expected that EOSUSD will make a second bear-move toward my target zone. The target zone is also the of the recent bull-moves. You can see it on my chart, also the target matches perfectly with the target of the ascending . It is good to keep an eye on future moves coming the next days and weeks.
Practically speaking it is possible to open a SHORT position here with target at 4.3 USD! The aggressive approach would be to open an SHORT position immediately with stop-loss above the last bear-flag , the more conservative approach is to wait until EOSUSD confirmed the second bear-flag . I will definetely keep an eye on this, when we confirm the second bear-flag i will open a short position because this is a highly possible trade opportunity which does not show up everyday! Everytime it is essential to wait for patterns to confirm until a position is placed in the market, patience should be in the inventar of a good trader!
Will be back analysing the markets! Peace and love to the cryptocommunity! See you!
Information provided is only educational and should not be used to take action in the markets!