Hi all,
This is my semi long term idea for EOSUSD, with a timeframe of about 1-2 weeks. Because most altcoins have had an exponential growth i use a logarithmic chart instead of a linear chart and when using elliot waves you can see the waves more clearly over a longer period of time. So the chart will probably look a bit different from your default setting (to switch between linear and log, there is a small button that says "log" just above the blue "publish idea" button).
Looking at the daily chart we can see that EOS has had a 5 wave up, an amazing run from 0.5$ all the way up to 18$ followed by an ABCDE correction back down to as low as 6$. At the moment EOS is consolidating around 8.5$.
Short term we need to break the resistance around 9$ that could start a run back to 10$. Next resistance lies around 10.20$ which is the 0.618 fib retracement line and the neckline of a possible double bottom (wave C and E). If we can break this neckline we could see a run to 12.8$ and after that 16$.
Looking at the MACD we can see that it is very low and has just turned up with plenty of room for growth which is a good bullish sign.
This is my semi long term idea for EOSUSD, with a timeframe of about 1-2 weeks. Because most altcoins have had an exponential growth i use a logarithmic chart instead of a linear chart and when using elliot waves you can see the waves more clearly over a longer period of time. So the chart will probably look a bit different from your default setting (to switch between linear and log, there is a small button that says "log" just above the blue "publish idea" button).
Looking at the daily chart we can see that EOS has had a 5 wave up, an amazing run from 0.5$ all the way up to 18$ followed by an ABCDE correction back down to as low as 6$. At the moment EOS is consolidating around 8.5$.
Short term we need to break the resistance around 9$ that could start a run back to 10$. Next resistance lies around 10.20$ which is the 0.618 fib retracement line and the neckline of a possible double bottom (wave C and E). If we can break this neckline we could see a run to 12.8$ and after that 16$.
Looking at the MACD we can see that it is very low and has just turned up with plenty of room for growth which is a good bullish sign.