I know the daily chart of EOS looks quite appealing to most of us leaving all the fibonacci retracement levels behind without a meaningful correction. But I think dealing with our emotions is key here.
EOS shows a bearish divergence between price and RSI on a 240min set-up indicating that a correction may be in the cards soon.
That is not to say that the price cannot climb higher as we have seen last year with BTC. But I think opening long positions become more risky. So I would take that into account when calculating an exit point.
Closing longs positions at 17.4 (top of the 3rd square) seems reasonable to me.
An exit at 21.2 (top of the 4th square) appears quite risky.
As always trade safe!
EOS shows a bearish divergence between price and RSI on a 240min set-up indicating that a correction may be in the cards soon.
That is not to say that the price cannot climb higher as we have seen last year with BTC. But I think opening long positions become more risky. So I would take that into account when calculating an exit point.
Closing longs positions at 17.4 (top of the 3rd square) seems reasonable to me.
An exit at 21.2 (top of the 4th square) appears quite risky.
As always trade safe!
Comment:
How negligent. The all time high at 18.7 might act as stiff resistance:
