EOS is currently in a higher timeframe ABC correction. The chart posted is showing the C wave in detail, which has 5 subwaves. We can see that subwaves 2 and 4 are ABC corrections and now we are currently in the 5th and final subwave.
We have marked out the extreme lows for EOS which falls at 1.365. It is possible we may retest that level before we start the...
EOS is currently in a strong uptrend, whether or not the resistance is broken, depends, amongst other factos, on bitcoin breaking 42k. I've made different tp:s based on volume, momentum and trend. You may use this as a guidance to your investing strategy. As you already know, there's a descending wedge on the weekly time frame, which favours EOS/USDT.
ASCRNDING TREIANGLE ( Top flat, bottom rising) = Trend continuation pattern.
Wait for a Breakout .
HOW TO IDENTIFY AN ASCENDING TRIANGLE PATTERN .
The ascending triangle is fairly easy to spot .
Uptrend: The market must be in an uptrend before the ascending triangle appears.
Consolidation: The ascending triangle starts to take on its form as the market enters...
EOS has been on a prolonged downtrend and is now again near the lows.
Long Trade Setup #1: False Breakdown
1. Price Action: Price breaks below the then rapidly climbs above $3.2, forming a bear trap
2. Trade Entry Confirmations: A breakdown candlestick followed by a reclaiming candlestick, above average volume on both breakdown candle and reclaiming candle,...
