EOS (EOSBTC) went on a nice run getting ahead of all other major altcoins.
First we were looking at ETHUSD running ahead of Bitcoin, then it was Litecoin, and, finally EOSBTC was the one to take the lead... But after a wave up comes a retrace.
I am sharing this trade idea to let you know that EOSH19 still has much retrace to do.
I added some arrows on the chart...
EOS Token (EOSBTC) has been doing some really good bullish action. Not doing much retrace and moving strongly on the way up.
Take a look at the chart on the right, this is the daily chart for EOSBTC.
Here you can see that EOS has been breaking resistance after resistance since it hit a low point on early December.
EOSBTC already took out one of the strongest...
We highlighted the areas most likely to have a tradable reaction with low risk and high reward. The analysis is based on the confluence between fibs and former support and resistance levels.
For now, is in a good shorting zone. It rejected the 200 daily MA and the golden zone and it also printed a bump and reversal pattern. So it either goes parabolic for another...
Commodity : EOS
Trade Type : LONG
Trading Against : BITCOIN
Pursuing this trade on Bitmex.
Entries : Double-UP Entries throughout the Buy Zone
Profit Taking : 25% at each TP point
Profit Locking : Move SL to break even once TP1 is hit, to TP1 once TP2 hits, to TP2 once TP3 hits and so on
Duration - 1-2 weeks
Investment in trade : 5% of the total Trading...
I am seeing EOSBTC preparing for a move, this chart looks a lot better than many of the others top altcoins, which are giving some mixed signals.
For EOSBTC on the 4 hours time frame, we can see a very clear and strong breakout above EMA200 and MA200, which are two strong resistance levels.
There is also bullish divergence forming on the MACD which moved to the...
Two scenarios, buy limit on resistance breakout (as it could be big) or wait for a touch on the trend line with a tight stop below the previous higher low.
Strong consolidation into a rising triangle.
Confirmed volume break off of support line.
Stop below bullish impulse candle and watch for targets at the 1.618 and the 2.618.
Let me know your thoughts and I...