EOSUSD is closing a deciding are where it will either continue the down trend or bounce back up. The ket support and resistance are in line for the moment, however the yellow trend can be broken at the 4th attempt just like the previous uptrend. It will be interesting to see EOS shoot up for a few hundreds of pips then it probably reverse back and head down the same way other Altcoins are doing now.
I am looking forward to hear your opinions about this idea!
Trade active
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The first bubble is reached, get ready for the bounce. Where do you think is heading?
@TotoParasca, I am an EOS fun I want it to succeed but right now all alts and EOS are bleeding. EOSBTC pair is down as well. If BTC makes a double top then your prediction can be right. If it's not then (IMHO it's not going to double top) then your thoughts will fail.
TotoParasca
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@BilimNehri, yes you are right its all very dependent on bitcoin, but this is how normally it should evolve. However as i mentioned in the description and you too, the overall trend is down and this might as well overlap the normal course of the analysis. But, its still interesting to see how the trends align so well just like in the good old days of forex in 2010, when algos were so rare.
BilimNehri
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@TotoParasca, Thank you for your answer and TA. Algos and AI tranding bots can catch the iH&S or elliot wave 5th count. I am just sceptical about this is so easy to analysis for everyone. And market makers make money by being unpredictable.
BilimNehri
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@TotoParasca, I have watched the BTC dump 6 hours ago at binance. EOSUSD was at 0.0009357 and during the BTC dump EOS didnt respect the dump and refused the further down trend and EOSBTC value raised to 0.0009434. I understand now that EOSBTC pair has found the deep or so near. (IMHO) Hopefully bleeding has stoped from now on. I think this is the first sign of the reversal. Lets see what happens next.
TotoParasca
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@BilimNehri, True very good observation. It will be interesting to see when BTC will reverse back up if it will follow or still stay rather flat.