Chimp_of_the_North

Chimp_of_the_North Updated 

Seems like EOS/BTC was in a falling wedge and tried to break out. Since the impulsive waves down seem to be done, we could look for a - temporary - bounce. Let me know what you think.

Chimp_of_the_North

Falling wedge + bullish divergence on monthly chart. As soon as it breaks the descending trendline, a long position could be considered in my humble opinion.

Chimp_of_the_North

Weekly kinda broke out of this small triangle at the bottom of the channel. We could be heading for another leg up (a.k.a. market cycle) with $28 as first target. I chose $28 since this is 1.272 Fib level with respect to the current all time high and because it is at the upper boundary of the channel. Current all time high (~$22) was around 1.272 Fib level with...

Chimp_of_the_North Updated 

The chart pretty much explains itself. Will IOTA go further down inside the falling wedge or will it break out? Depends very much on $BTC as well.

Chimp_of_the_North Updated 

Breaking this descending trendline would be bullish in my opinion. Stochastic RSI and MACD are looking good to try an upward movement. I doubt this can by typified as a falling wedge but I included the lower line nevertheless.

Chimp_of_the_North

EOS is currently in a similar triangle as prior to the bull run to $23. This triangle ends around October 28/29. Would be interesting to see how it will develop from there onward. Stochastic RSI and MACD don't really look bullish on both daily and weekly timeframe. Anyway, watch for a breakout either way!

Chimp_of_the_North

Just an idea on a potential third bull run on ZRX. Let me know what you think.

Chimp_of_the_North Updated 

I did some quick maths and found out that most people shorted EOS between $7.20 and $5.30. The number of shorts in that period increased by 446%. Those shorts have currently decreased by 36%. There is still 44% to go (if shorts drop 80%, we would be at the same level as before they increased with 446%). That’s 4.1 million EOS worth of shorts that are still open...

Chimp_of_the_North Updated 

Since its previous all time high, EOS has formed an ascending channel with an inner ABCDE-pattern. Since Bitcoin is in a somewhat bullish mood which causes people to turn into Bitcoin instead of alts, we may see a follow up from alts when Bitcoin cools down a bit. You can use the Fibonacci levels as possible resistance and support levels, besides general trend...

Chimp_of_the_North Updated 

I already pointed out a bullish scenario for EOS/USD, in which I mentioned that 1.272 fib level could be a possible price target ($28). Now, let's see what EOS/BTC has in store. The things I noticed in EOS/BTC are 1. A possible cup and handle pattern and 2. A potential fifth wave in an Elliott Wave pattern. Given these two bullish patterns, I would first watch...

Chimp_of_the_North Updated 

Given the similarity of both market cycles, I was wondering what a possible bullish set-up for Bitshares would be. The previous market cycle reached its all-time-high at 2.272 fib level. When we would apply the same calculations on the current market cycle, it would drive up the price to approximately $2.20! Just like the previous market cycle, the black...

Chimp_of_the_North Updated 

Have we seen the end of the correction for EOS? The longterm linear trendline needs to hold for this to be even possible. Let's see!

Chimp_of_the_North

I posted EOS' ABC-correction a while ago which, by the current looks of it, played out very nicely. In both the first and the second market cycle, EOS held .786 Fibonacci on a weekly timeframe with a bullish wick below it. IF the correction played out already (depends on Bitcoin as well), we could have a look to where EOS can potentially go. Given the similarity...

Chimp_of_the_North

The ABC correction pattern for EOS did not change since my post on June 20th. Though, The C-wave could get a bit deeper ($6.5, weekly 50MA) since Bitcoin is in a dumpy mood. The yellow support area could initiate a potential bounce.

Chimp_of_the_North

5.4-5.5k would be a potential area for a short-term bounce. The black descending line represents the trendline on a bigger scale.

Chimp_of_the_North

Because of the resemblance with the previous market cycle ($0.45 -> $18), which corrected to .786 fib level, my guess would be another correction to those levels. That would mean $7-8 range.