MAGICMARK

EOS ready for a move up?

BITFINEX:EOSUSD   EOS / Dollar
Quick one today everyone.

The first wave up went to just above $18, then corrected to just below the 0.786 fibo.
The second wave up went to just above $23, and then corrected, currently sitting just below the 0.786 fibo.

Is EOS ready for a move up? Using the ratio of peaks (second peak / first peak), the projected target for the third peak is $28 ... but $30 can easily be a level that it gravitates to.

On the downside, of course BTC going down will likely cause further EOS correction ... but I do see the $6 range as strong support. Likely the buy zone is $6 to $7 and the we wait it out ... if BTC starts a rally, EOS could do very well.

Remember, only a fool relies on one potential outcome!

Do not use this information for financial decisions. For educational purposes only.
Comment: Uhhmmmm, I swear that increase in EOS is just coincidence! LOL. People, obviously BTC is a little bullish right now (short term), which is helping ... but the EOS reaction, is just another indication of how this coin is ready to move up. I'm long.

Comments

Unless the whole EOS constitution changes (i.e. the powers that the BPs have in relation to blocking any address etc.), EOS is pretty much heading towards $5 with a few bounces alongside BTC.

Let's hope that Dan Larimer removes the current set up and just implicate what ETH team is doing. Otherwise, EOS is just useless.
Reply
MAGICMARK doctorkesh
@doctorkesh, let's see. The accounts frozen were suspected to be stealing EOS due to fraudulent activity, so I read. ETH froze ALL trades when they got hacked, and they reversed ALL transactions and created the ETH as we know it today ... I'd see that as far bigger intervention. Imagine all the people who were honestly trading ETH at that time, made a crap load of money ... and then had it all reversed ... and then ETC is born ... ETH survived all that right?
Reply
doctorkesh MAGICMARK
@MAGICMARK, :) Was Bitfinex one of the ETH devs? Bitfinex is one of the EOS BPs. The hardware cost was less than 50k$ and they are making 100k$ a day! just for being the BP. Now imagine the power and that being given to an exchange like Bitfinex :)

ETH hack was a phenomenal one. The reason was given prior to hardforking the chain... and we had ETC and ETH as a result.

If this continues, then EOS will end up being a joke with 10 different hard forks within a year.

But yes, something good appears to be happening with EOS today. Check the news:

https://www.ccn.com/do-over-dan-larimer-proposes-scrapping-the-eos-constitution/

Reply
MAGICMARK doctorkesh
@doctorkesh, don't get me wrong ... decentralized is decentralized ... and a constitution should reflect that. But all I am saying is ETH survived a lot more than this little crack. Imagine what happens if they do change the constitution ... where will EOS be?
Reply
MAGICMARK doctorkesh
@doctorkesh, and thanks for the post ... I hadn't seen that link ... very good news.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out