EOS/USD Secondary trend. Wedge.

A secondary downtrend forming a wedge is developing. But, it should be noted that volatility has decreased significantly, but there is no significant volume of buyers yet.

We work with a breakdown (rollback, breakdown) of the wedge resistance (important, high volume of the buyer) or with a stop loss at the current moment before the breakdown (risk).

It is worth noting that during previous resets before a trend reversal, the price fell 2 times to breakdown in the $1.3-1.6 area. In that case we can use stop with buy orders (not close to stop loss), in case of a similar scenario (not necessarily).

Here you can see what I described above. Just keep this in mind in your work.

Comment:

c breakdown of the wedge (downtrend) +23% at the moment. A high probability after reaching a strong resistance, the transition to the sideways, the reversal levels zones were shown on the chart.

Also, I have purposely imposed a sideways volume profile for clarity (traders do not need it—it is clear and visible without it). I have made it for those who are not familiar with trading.

I also added moon phase indicator on the chart. Is EOS market maker a stargazer or superstitious, what is your opinion? Or is it superstitious first of all to manage bitcoin, and it gives a projection of price movement to other instruments. Or it is the algorithms of nature so arranged and affect the mental behavior of living organisms, including humans.

Think about it, analyze it yourself. It's simple, I have repeatedly demonstrated all this in a closed channel before. Explained why it works and why at some points it does not visually on the instruments (on btc/usd). Also think about why the Fibonacci grid often coincides with levels and why only on liquid instruments, where it can be used and where it is useless... I used to explain all this in great detail, too, probably at the beginning of channel creation.

Comment:

+50% 1 target, level 3.058 reached

Comment:

Formation of a triangular formation at the top of a local trend and its breakout down. That's why it's so important to always protect your profits and not get greedy. Compound interest and killing the voracious hamster inside does wonders over time.