EOS / BitcoinLong
EOS idea
Updated
High level thought, EOS is still bullish.
Fib shows that we are currently at 50% retracement from ATH. Based on previous chart, I think there are three major supports
1. 0.0008 (already broke)
2. 0.00055 (0.618), stop loss 0.0005
3. 0.0003 (0.786), stop loss 0.00002
Very likely EOS will test the second support and bounce from there.
I would take small profit from current 0.0007 level range and set major long order at 0.00053-0.00059 level.
THIS IS NOT PROFESSIONAL TRADING ADVICE, PLEASE TAKE YOUR OWN RISK.
Fib shows that we are currently at 50% retracement from ATH. Based on previous chart, I think there are three major supports
1. 0.0008 (already broke)
2. 0.00055 (0.618), stop loss 0.0005
3. 0.0003 (0.786), stop loss 0.00002
Very likely EOS will test the second support and bounce from there.
I would take small profit from current 0.0007 level range and set major long order at 0.00053-0.00059 level.
THIS IS NOT PROFESSIONAL TRADING ADVICE, PLEASE TAKE YOUR OWN RISK.
Note
Couple things to keep in mind,1. The way EOS ICO distributes coin. This will take major affects on the current price since coins have been distributed vastly. It's hard for price manipulation by few people(whales). We can see the token distributions at etherscan.io/token/EOS except the first two addresses and one of Bitfinex wallet(1st is token distribution and second is blockone's reserve). Very few individuals are having more than 1% of coins. I think it's hard to push price up rapidly without a concrete desire.
2. Most people don't understand what EOS is and will only FOMO. Also most of people don't know how to register EOS token(we can see this type of questions everyday in reddit) and concern about U.S. regulations. Without good news coming, the price will keep tanking.
3. Keep an eye on roadmap(github.com/EOSIO/Documentation/blob/master/Roadmap.md), that's the most important news that could spread and push the price because of FOMO. I expect the price reversal after the release of v1.0.
4. Keep an eye on ICO(eosscan.io/), price peek after #200. I expect price going up after #300 which is about at mid April.
In summary, we are still at downtrend, if you believe in this project, you can take major profit at 0.618 or even 0.786.
Note
Second target reached, should take profit hereNote
And sell at 0.0007 or hold for long term
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