Similarity of EOS' market cycles
I posted EOS' ABC-correction a while ago which, by the current looks of it, played out very nicely. In both the first and the second market cycle, EOS held .786 Fibonacci on a weekly timeframe with a bullish wick below it.
IF the correction played out already (depends on Bitcoin as well), we could have a look to where EOS can potentially go. Given the similarity of both market cycles, and given that the previous all-time-high was at 1.272 Fibonacci level with respect to the first all-time-high (around $18.7), I would like to see EOS test another 1.272 Fibonacci level. This time, with respect to the current all time high which is around $23. That would mean a new all-time-high around $28-29.
Let's see!
IF the correction played out already (depends on Bitcoin as well), we could have a look to where EOS can potentially go. Given the similarity of both market cycles, and given that the previous all-time-high was at 1.272 Fibonacci level with respect to the first all-time-high (around $18.7), I would like to see EOS test another 1.272 Fibonacci level. This time, with respect to the current all time high which is around $23. That would mean a new all-time-high around $28-29.
Let's see!
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.