cheynos
Long

We're falling into the buy-zone! Update (EOSUSD, EOSBTC)

BITFINEX:EOSUSD   EOS / Dollar
Hello everyone
Today a small update on EOS. We will start off with the EOSUSD chart, then proceed to EOSBTC and then have a look at EOSUSDSHORTS/LONGS. Let’s get straight in to this!

EOS/USD
-For me EOS won’t go much lower than recent price-levels, I think that we’re falling in to buy-zone. Buy-zone for me is between 3.5 and 4.5. I chose this levels because it’s a very strong support level right there! If we go down to 3.5, that would be a decline of 25%, this is worst case scenario for me, if you are planning to buy EOS, do it in parts and don’t wait to the 3.5 level.

-Interesting: EOS went down one time to the oversold area in the RSI , now EOS is down to the 20-level. The last time we’ve hit the oversold area for EOS, we went up with 361% in one single month.

-Another thing that could happen is a creation of a possible reversed Head and shoulders pattern. A perfect left shoulder is created, if we go back up, the head and right shoulder could possibly follow. ( this indicator is pure a fun speculation).

-Risk reward: so as I said before, our first huge support line (in this case support zone ) is between 3.5 and 4.5. Worst case scenario we go down to 3.5 and have a loss of 25%. If we bounce of in this area (which I expect), than our first strong resistance is at 9, which is a gain of 95%. This could possibly be an interesting trade.

EOS/BTC
-The first thing I always look at: is this chart creating higher lows? EOS does! This is a very bullish indicator! We constantly see higher lows, even after the bloodbath, if we can find support at anything above 0.0006, than we’ve created again a higher low, I’m very optimistic for EOSBTC if we stay above 0.0006.

-I’m not worried for EOS if we go further down, I only worried if we don’t find support in the pink area which is a very big support zone!

-The biggest resistance lines we have to look at are 0.001 and 0.0013

-Conclusion: we could certainly see EOS outperform BTC in the future!

EOSUSD/SHORT
-This is a very interesting chart! This chart shows how much people are going short on EOS. We can see that the shorts have got a rejection at 7500000. Now can go all the way back down, these chart is massive! This shows us the amount of people who are scared that EOS goes back up, if EOS goes up, then everyone who’d shorted EOS, got to buy EOS to restrict their loss. This green candle is one massive block energy to get unleashed sooner or later.

EOSUSD/LONGS
-So for the long chart I just putted a really speculative fact. We can see a clear pattern of 400% up, small downtrend, stability, 400% up, small downtrend, stability… the question is will this pattern last ( I really don’t think so, just thought this was a fun fact).

Love to hear your opinion on this!
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