EOSShort
EOS final wave b4 crashing
EOS has had a big run up along with many of the alts however things may change very soon. This new run up has made a 3rd wave extending past 161.8 which means we should see the final 5th wave possibly touching the 23 fib retracement of all time. thats assuming it doesnt go down now as its been rejected off the 38 fib retracement. i still beleive we have one more run up ti the 23 fib to complete the 5 wave structure of the X leg correction as part of a WXY. From there on we should see EOS go down from there below the last low and my original anaalysis below 3.A corrective 3,5,3, or 3,5,5 structre which means the final leg will be impulsive so be careful.
Most alts are completing more complex corrective structure and some are virtually completing the X waves before the final Y waves. using approximate fractals for time this completion would take us out into June to complete. June is the time when EOS launches their mainnet product, are people buying the rumour and selling the news? will the EOS platform really deliver what they say? this analysis paints a very suspect scenario of potential negative news for EOS? Have they overpromised and will they underdeliver? or bug issues with the platform, who knows but my analysis appears with some definate major downside very soon.
Be extremely cautious around $15 area.
All details on wave structure to play out are drawn on chart
Most alts are completing more complex corrective structure and some are virtually completing the X waves before the final Y waves. using approximate fractals for time this completion would take us out into June to complete. June is the time when EOS launches their mainnet product, are people buying the rumour and selling the news? will the EOS platform really deliver what they say? this analysis paints a very suspect scenario of potential negative news for EOS? Have they overpromised and will they underdeliver? or bug issues with the platform, who knows but my analysis appears with some definate major downside very soon.
Be extremely cautious around $15 area.
All details on wave structure to play out are drawn on chart
Disclaimer
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.