botje11

EOS double parabolic shape

BITFINEX:EOSUSD   EOS / Dollar
Just before the bitcoin dump we had an hour ago, i posted this chart in my channel and was about to write an analysis but then things went pretty fast. It doesn't change a lot now, so far just a small drop . But it did break the bullish pattern so 2 options now.

1) We continue to drop and a lot when looking at the chart on the left. There are a few support levels in between as we can see on the right, but if we get to see a high volume dump when the 6.8ish breaks, there is potential up to 5.0 even.
2) We don't make big drops with high volume , but move sideways/down out of the curved line on the left. If that happens, it will become much more likely that it doesn't want to drop and we could see it move higher again after this correction ends.

In the mean time, as long as we stay below the 7.2ish, bearish pressure remains. Bull need to break that level to take away the bearish risk that EOS has at the moment.


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Previous analysis:
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right on point !
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Thank you for this post david right side worked out very well
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