EOS just keeps pushing but this trend imo is going to come to an end soon enough, was short off that small time frame double top and took small profits as it turned back up, was looking for another short entry if it was rejected at that level again but smashed through and tapped the next level off resistance.
Divergence building now on the daily if this rejection holds, short term retrace back to 8400 area before most likely trying to crack this level again.
if it can break above this supply zone the next target in mind would be 10000, with buy stops over supply, still a 10% trade between each order block.
If the rejection is strong here at a double top or fails to make a new higher high and kicks off a down trend im looking at 6800 for a potenial target for a short or re entry for a bounce.
Divergence building now on the daily if this rejection holds, short term retrace back to 8400 area before most likely trying to crack this level again.
if it can break above this supply zone the next target in mind would be 10000, with buy stops over supply, still a 10% trade between each order block.
If the rejection is strong here at a double top or fails to make a new higher high and kicks off a down trend im looking at 6800 for a potenial target for a short or re entry for a bounce.
Note
EOS didnt want to give us another entry on the daily and smashed through out daily supply zone, how ever on the 4hr we got a noticable pull back and managed to get a trade in as it broke through and retested on the previous supply zone.price spiked to our target at .00100 to take profit for almost 90% on 10x from our entry.
strong rejection at this supply zone now although imo this resistance here is quite week, im not sure what more eos has to give as the daily is quite parabolic and has spat out a clear bearish divergence.
we could see a fomo push but imo technicals are pointing to a larger retrace incoming.
Il now looking on the smaller time frames for a double top rejection to confirm a possibly short entry.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.