You can see the ghost pattern of 2014 crash in light blue. It is compressed 25% but nevertheless represents a good idea how this years crash can continue.
The upwards channel seems strong and I think we can go as high as 12k usd.
bigger picture in link
this is a more fundamental approach.
While I am a long time holder of EOS, I believe that we are in a huge fomo due to launch. I think we will see price up till 2nd of June.
After the launch though it is anyone's guess, the news will determine the value. If we see upcoming projects on it (eosfinex?), maybe the fall wont be so hard.
I have updated my superposition charts to reflect the channel break that we had recently.
I believe that this chart is even more realistic than my previous ones as the 2014 ghost pattern (in blue) is only compressed by 25% on time frame. I think this is also reasonable as we have in a slightly faster moving market today than in 2014.
So as you can see the top...
I have done this superposition back in 6th of March and so far we are going in a very similar to the trend.
One important point is that the time horizon is not the same on the superposition. I had to compress it to fit the actual crash. Nevertheless the resemblance is strong.
Chart is in log scale.
Ok while comparing the recent drop beginning of February I realized that it fits very well with the small bear channel that we have now.
Furthermore the up trend afterwards coincides with the projection from before bubble (dashed green)
Could the upcoming trend be similar and we finish the correction?
I have been thinking about the high volatility of this market and I realized that the absolute scaling does not make much sense. We are moving in between 4k and 20k in the matter of weeks. 4000 to 4500 is not the same difference as 10000 to 10500 while considering the profits. I think this is a mistake that most of us are making while making charts. In such...
This is my first idea and I try my best with charts.
We have bounced back down in the bear channel and here I try to show the potential support lines:
- First one is around 9k. this is in the case of a head and shoulders forming. In this case in my opinion it will be a strong bounce back up. The validation can only be certain if we break the up limit of THE...