Wave 1 is around 1600%, Wave 3 is 400%, that is the 4 times less then Wave 1, and if we use that formula for the Wave 5 we will have 100% up. IF we have 100% up for the Wave 5, we will perfect touch the fib 1.618.
U can also see that from Wave 1 to Wave 2 we are having a Flag pattern, and now from Wave 3 to Wave 4 also, with the same breakout scenario.
As we know EOS will be launching their Main Net on the 29th June, I wanted to use Elliott wave and a Fib retracement to show everyone the potential path EOS could take...
Last night we completed wave 4 although saying that if EOS breaks further down today by 1000 sats then this will invalidate this impulsive wave. If it carries on upwards today then we are good...
EOS has been extremely bullish lately. With the main net launching coming up next month, its great time to pick some up for massive profits.
EOS is on its wave 3 of primary cycle. Wave 1 ended earlier this year after which we had major correction down to 0.786 fib.
Currently, EOS has started its subwave 5 (green) of the main wave 3.
Targets for this are around $33-35
This is a very tough question unless you are a long term holder of this.
In my experience and doing a very simple T.A this coin is still in correction mode. Remember it was 5 dlls not long ago... now trading at 14 dlls... it is still very high.
But with their mainnet launch coming in 20 days and counting it becomes a very irresistible idea to buy right now.....
EOS is on an uptrend, we'll be in this trade until our stop-loss or sell targets are reached.
It is also a good hold, as it has good future
Buy = Under 0.00190
Sell 1 = 0.00209
Sell 2 = 0.0022
Sell 3 = 0.0025
Stop-loss = 0.00159
A few days ago I made a post saying that EOS was forming a possible double bottom (which I updated the idea to say that I was wrong.)
Anyway, EOS has found support and lots of volume has come in as people are accumulating.
RSI is looking good and the first major resistance level will be at 21k sats.
EOS looks like it has formed a double bottom.
The rectangle is the area to watch as it is the first major resistance level.
It tested that 25 EMA and will probably bounce down to the 10 EMA before moving up.
RSI is showing bullish divergence as well, keep eyes on.
EOS has some big potential and with the all the new platforms and meetings happening this year I would expect big investments to be made in EOS.
If my prediction are correct the fist wave up/down has finished, EOS is currently at the biggest resistance point in history.
If it will clear the resistance it will prob. shoot further upwards.
"NOT a financial...
EOS moving in channels.
Bigger channel (red) longer term bullish, smaller channel (purple) shorter bearish.
Previous wave movement could repeat in the last one.
So i would consider good entry points the Fibonacci retracement levels around 7.64$ and 7.19$
and i expect upward movement when price is near the red channel upward trendline.
Pay attention when price...
EOS #EOS entry points.
Ideally we would want to see it drop to the .618 and find support before it moons.
If it doesn't drop that far then look for confirmed support on the .786.
As it stands right now on the daily chart the .618 FIB and 50 day moving average are kissing. So in addition to the FIB, look for support at the 50 day moving average.