Bullish divergence + sqweezing patterns + engolfing candles. And this is on the weekly. Also fundamentally EOS is very strong. EOS 1.8 + Voice. All of this smells like a chainlink pump coming. 30 dollars doesnt seem impossible to me in a quite short period of time.
The up swings are becoming smaller and smaller also the angel of the moves is becoming flatter. This is showing me that all the bitcoin maximalists are now all in on BTC and many people who belived the BS that alts are dead are also in and now its time for the alts to shine. 50% market domminance in the next 6 months is acheavable for alts.
v1.8 is getting a pump it seems. Technically we are ready for a reversal. We have an engolfing candle on the weekly. MACD is starding to turn, stochastics just crossed bullish. And we are back in the macro support structure. We are set for 2 3 months of pump. Lets hope BTC doesnt spoil the party.
We are currently testing the breakout levels out of the bear market. If we can hold these levels this becomes not only fundamentally strong, but also technically strong. I will have no doubt that ETH will break it all time high again sooner or later. EOS looks similar.
When you are selling alts to buy BTC at the moment, you are beting that btc will have another 5 maybe 8 % dominance gain agains the risk of losing 10 - 30%. Traders call it risk reward ratio. Obviously the risk reward ratio in the dominance is in favor of alt coins at the moment. Not to mention that almost all youtubers are currently BTC maximalists. I cant seem...
The only reason why i havent sold my alts is that BTC is still in a bull trend on the monthly. If we close under the 21 EMA on the weekly BTC chart, im deffinetly dumping my alts, because things can get ugly very fast. So for now the chart on BTC is still bullish, however there is a divergence with the charts on the alts which are bearish. Now the picture is not...
The current support is at 9k. Thats where the 21 EMA is. We need to keep closing above that level. If we continue to do so eventually we will brake out above that level and off we go to 20-25k before the next major correction. The altcoins are still massively undervalued and will go crazy ones we go to new all time highs on BTC.
We went under the 50 MA and the 21EMA, which is suppose to scare the investors. However i dont think that anyone with a half a brain will be dumping EOS at 3 dollars in the beginning of a bull market. On a random day we will probably have a spike to go on top of the moving averages and off we go to the next local top at 15 dollars.