EOS/BTC- Trendline could push the value up
Updated
EOS/BTC is now trading near the strong support area. Currently 70 percent FibboRetracement. The next strong bullish signal is long-term trendline supporting the levels below. This time, there is chance for a reversal on the market (EOS/BTC).
We can see, there is building up Falling wedge, which is also bullish signal. We are waiting for break. Currently we are attacking the up trendline of Falling wedge. The market broke this trendline. But there is still not confirmation. We need at least one day candle close above this pattern. But now, it seems positive.
Indicators seems good. Bear power is still negative, but it is raising up. Now we can see bullish divergence on this indicator. RSI is maximal OVERSOLD, but there is a trendline we need to break for another rally (up). On the other side i have to say, we are in strong downtrend from weekly and daily chart, but now, there is a possibility for reversal more than ever. If we break this strong trendline we could test previous bottom.
This is just my point of view, I'm not responsible for your loss. It is your own risk.
4H Chart is looking good.
Here is my opinion for trade:
BUY ZONE: 0.0009100-0.0010
TP: 1) 0.0010600
2) 0.0011
3) 0.0012
SL: 0.0008700
We can see, there is building up Falling wedge, which is also bullish signal. We are waiting for break. Currently we are attacking the up trendline of Falling wedge. The market broke this trendline. But there is still not confirmation. We need at least one day candle close above this pattern. But now, it seems positive.
Indicators seems good. Bear power is still negative, but it is raising up. Now we can see bullish divergence on this indicator. RSI is maximal OVERSOLD, but there is a trendline we need to break for another rally (up). On the other side i have to say, we are in strong downtrend from weekly and daily chart, but now, there is a possibility for reversal more than ever. If we break this strong trendline we could test previous bottom.
This is just my point of view, I'm not responsible for your loss. It is your own risk.
4H Chart is looking good.
Here is my opinion for trade:
BUY ZONE: 0.0009100-0.0010
TP: 1) 0.0010600
2) 0.0011
3) 0.0012
SL: 0.0008700
Note
The price is really pushing up, and we are looking more and more bullish from daily timeframe. The targets are closer. Strong candles are building up. Now is important daily close, because we are trading arround EMA 13, we need to go through. From middle-term I think the market will do it.
Note
Here is 4H chart. We broke strong resistance (now support) -10 000 Satoshi.That's really important and good sign. Indicators still looking good.
Note
4H Chart is overbought and MACD could cross the links downside. But it's not big deal i think, if we dropped, the black support could be strong enough to hold the value. If we breake, we will go to our first target.
This timeframe show us, we are above the EMA 13, which is good sign for the middle term-trade. I think we can test black support but it's not big deal, trendline and 70% Fibbo should be strong enough.
Note
The dump was bigger than I expected, we are testing the trendline again. Once the support breaks, it will push up the value of EOS to the previous bottom.
Trade closed: stop reached
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