EOS pulled back harder that other major coins today.
It is now at an improtant but not "do-or-die" Fib ... yet....
Bulls need a little bounce from Band 5, and then hold Band 4.
The 5.236 fib bounced it previously, but will not be as strong this time.
The 4.618 fib would be the ideal point to mount a serious Bull Offensive.
The 4.236 fib could be the "Do-or-Die"...
EOS Bullish View, But don't chase high.
The recent rally may enocurage a lot of new investors to
"Choing" -- rush into this market.
However, 5.5-6.00 is strong supply zone and a lot of previous buyers were trapped there, a pull back may happen
Good Strategy is to buy the low,
4.5 is a good area to buy EOS.
I have mentioned earlier when BTC hit 3600, and...
Still in a triangle, boring i know. However, we do observing massive spikes and rallies in the ALT coin community.
So it is obvious to a lot of traders that a bottom is forming and accumulation by smart investors have occurred.
However, the big question is, Can this ascending triangle is just 1-2 wave into 3-4 bear wave?
Stay strong, HOLD the line. Patience...
How to use :
- When we are in green, the average sentiment is still bullish .
- When we are in red, the average sentiment is still bearish .
- Use internal divergence to show where the trend will reverse. (cyan color line and yellow lines)
- ******** Use divergence between impulse to forecast the bigger move. (Blue line) ******** THIS IS THE KEY but no one...
**********A much larger move was expected in unison with BTC break, signal look positive for a positive break despite the middle BB holding down the price. A Break above $6 would be very positive with much reduced volume pressure above. ALERTS ARE SET READY FOR A MOVE EITHER WAY, BUT WE HAVE A BIAS WITH THE BULLS.
I currently have no trades and this is not financial advice. This is for educational purposes.
As a price action student, one must be practicing constantly to be able to see and build the confidence of your trades.
$EOSUSD has an interesting chart here, it seems to be one of the highest potential coins together with $ETH and $BTC naturally, as far as technical patterns go. As far as fundamentals go I'll let others more knowledgeable on the tech behind it comment here if they like, I have heard good things coming from people I respect who are involved in this field.
Identify horizontal support and resistance lines using your choice of 6 methods.
Lookback window: Number of bars back to consider in calculations
Lookback window right (only applicable for methods 3 and 4): Number of bars to the right to consider in calculations
Number of S/R lines to plot: S/R lines to plot (currently the max setting is 4 so 8...