On a weekly, we are going to be stuck in 18k-20k range to trap bulls and crypto twitter to go crazy making everyone believe in moon for crypto. Altcoins had now more than 3 years to proof any use case. No real adoption or useful mass market crypto solutions. Back to 2k and then collectable item worth until government backed coin is introduced.
EOS is the top looser in the last couple of days, this is my take in the relief rally, but it looks like a heavy short in $3.2-3.3 area. MACD crossed on the 4 hour which is my primary signal on the 4 hour.
MACD on 4 hour about to cross up, bullish divergance on the 4 hour. Possibility of last minute sell off to avoid the cross. When cross confirms, the price should behave like this over the weekend. Longing and exiting at 8450, 8750 and 9150 to re-enter lower should be the play. Would consider long term short at 9150.
EOSUSD fighting for life here. 3.67 pivot breakdown will lead to at least retest of $3.1, but likely lower overtime. This level would equal BTC at 9.4k
In red bearish signs:
- tenken, kinjun negative cross
- MACD negative cross
- below KC channel
- negative volume spikes no positive volume
- still holding bottom of 4h ichi which hasn't properly...
Ethereum has less adoption than even VeChain, Ontology or Bat so fundamentally its still over-valued. It has so many technical problems that best way forward for the team is to create another coin. I see supports at $167, $88 and $9 which are good places to close shorts to re-enter higher. On a weekly MACD crossing down.
What a carnage, after great news with Walmart price hit 1 cent, now dropped almost 60% from that point. Really weak price action of this coin which can't even be shorted on leverage. Its telling you that the team is distributing it left, right and centre. At this stage it can consolidate in low 0.004s but double bottom is in play.
Might be a good spot here to go long on EOS/USD if 3.60 USD holds on a daily. MACD in a decision point, either MAs will cross which can lead to test of bottom ($4.75) or top of ICHIMOKU cloud ($6), or reject and bounce of each other in such case levels of $3 or lower would need to be watched.
MACD telling to go long, waiting for confirmation above KC and ICHIMOKU levels. Levels to watch (sats):
POE is prone to sudden pumps, it might be getting ready to go on another one. If one were to go long at current levels and close at 100 thats 500% gain, SL: close below 18 sats.
Two months of sell off formed falling wedge. Broke out and retesting falling wedge right now (17 May 2019) with a bullish MACD cross. Going long here, even if BTC will sell off GRS can still go up as the volume is so low. Target 10,000 sats, but can go as high as march 11 highs. Stop loss hourly close below 5000.