AponSOKS1978

Parabolic Curve pattern idea for $EOS USDT

Long
BINANCE:EOSUSDT   EOS / TetherUS
This is a personal research and idea for investment. DYOR and TIT...

This is $EOS coin against USDT pair on a daily chart .

ABBREVIATIONS
Parabolic Curve Theory ( PCT )
Price Action (PA)
BTC ( Bitcoin )
T/K (Tenkan/Kijun Blue/Yellow lines)

:::DISCLAIMER:::
This is a long-term pattern that probably will develop exponentially growing price action as it starts to close. It seems consistent to PCT as we get higher highs and posterior ranging at key Fibonacci levels and there's also a sub-base 1, midway to the .236 fib (base 1 or .b1).

See as .b1.1 or as like I call it, sub-base 1 is touched at mid-height from the base of the Parabola to base 1 (.b1)

As I'm looking at this chart and describing my idea I'm very conscious that events like news catalysts and BTC volatility can deviate it off its course and make price action wonder outside the confines of the pattern invalidating or at least demanding a reassessment of the idea.

TIME/PRICE PROJECTION
Pattern start: Late-Jan 2021
Estimated end: Q4 2021 (5 months from publishing)
Price tag at time of publishing: 10,3871USDT
Expected price tag at end of pattern: 25USDT

Safe trailing take profit area: I will assess this as the pattern develops.

TECH INDICATORS
Ichimoku indicators:
-Bullish Kumo cloud.
- Span A and B flattening suggests consolidation period.
- PA above Kumo, bullish sign.
- Bullish T/K crossup 5 days ago from this publishing is also bullish .
- Chikou lagging span far and high.
- Parabolic SAR indicates bullish trend .

Trade at your own risk...

NEWS CATALYSTS AND BTC VOLATILITY
No major news upcoming this year related to coin.
Seems affected by BTC dips.

EXPECTATIONS
I expect a completion of the pattern if BTC doesn't pull PA out of pattern. If it does, this idea may need to be revisited.
$EOS at least at 25USDT price tag within months from now.

FINAL NOTE
Drawing may need some minor adjusting as the pattern develops.

Comments