After breaking the Daily EQ with 17% (around 8% for me personally), EOS/USD is at a key Daily resistance currently. The on the Daily is extremely narrow = strong. is strong. We already saw a bull-break, but 4,5 is gonna be the psychological level to break.
Should we get a definitive break above this resistance, we could potentially be reaching the Equilibrium zone before the November break-down, at 5-6 Dollars. That would give around 15-35% in profits.
Accompanied could this the EOS/BTC chart: After passing the important at .09-.10, our next weekly S&R zone comes in at .125-13, which is around 15%.
All of this should be accompanied by the correlation to grandpa Bitcoin: If BTC now manages to break at least until 4.2-4.4, this would be a perfect sign for EOS to go. Obviously if BTC rejects from this zone, EOS could even fake-out & turn around. EOS has always been a high beta version of BTC: it seldom makes it's own moves against BTC , it's highly correlated. Therefore BTC should at least be neutral/go slightly upwards, for this scenario to happen.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. I had talked about the Equilibrium break in my last analysis & told you exactly how I'm gonna play it, follow me so you don't miss out next time! I wish you a wonderful weekend! ;)
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