Hi Jame and Joe!
Looking at the daily EOS chart, you can see it is a big opportunity here for trading setup Low risk! High reward!.
There are 3 sensible reasons to go LONG in this trade:
1. EOS came to hit $2.4 which is strong uptrend support from low Oct 2017 and low Dec 2018.
2. EOS is building a big falling wedge pattern. You can see it has been confirmed from bullish divergence MACD to be a real falling wedge.
3. Momentum is beginning to shift upward.
From these 3 reasons, I believe it is worth enough to GO Long from here, but the price still stays below 21 Daily EMA. Therefore, Entry price would be around $2.4-$3.3 with a tight stop-loss below $2.2 and 1st target at $7.5. You will get R: R around 4.5 :)
*****THIS INFORMATION IS MY IDEA AND IS NOT RECOMMENDATION TO BUY OR SELL. IT IS TO BE USED FOR EDUCATIONAL PURPOSES ONLY.******
Looking at the daily EOS chart, you can see it is a big opportunity here for trading setup Low risk! High reward!.
There are 3 sensible reasons to go LONG in this trade:
1. EOS came to hit $2.4 which is strong uptrend support from low Oct 2017 and low Dec 2018.
2. EOS is building a big falling wedge pattern. You can see it has been confirmed from bullish divergence MACD to be a real falling wedge.
3. Momentum is beginning to shift upward.
From these 3 reasons, I believe it is worth enough to GO Long from here, but the price still stays below 21 Daily EMA. Therefore, Entry price would be around $2.4-$3.3 with a tight stop-loss below $2.2 and 1st target at $7.5. You will get R: R around 4.5 :)
*****THIS INFORMATION IS MY IDEA AND IS NOT RECOMMENDATION TO BUY OR SELL. IT IS TO BE USED FOR EDUCATIONAL PURPOSES ONLY.******
Comment:
The judgement day is not to long for you. I believe BTC will be small bounce up soon in a few day and make EOS price ticker to be upward but if the green strong support line not hold anymore I will cancel my bullish idea.
After EOS went down yesterday, it still looks good for me. This is because RSI did not break the uptrend line yet and MACD stays in the same condition. Moreover, the Price rejection from the downtrend line from yesterday shows how important this trendline is and it is 5th times that this trendline has been hit. As all of you know the more times the trendline has been hit, the more likely it to break. From this reason, I believe it would break up if we get another test on this trendline.