EOSUSD - Medium term, still bullish.
Updated
After a solid rally with increased volume and interest for EOS we are now at what looks like the end of this descending wedge formation.
Looking at the bounces in the RSI a solid recovery is possible. However there is weakness showing at PPO and MACD that still fully open at the 4H timeframe.
If broke on the upside 2 TP are achieavable with low downside risk if confirmed by solid volume and steady increase.
If a bear scenario develops a shortplay could be actioned until around support level.
Bullish scenario:
Entry: at the break of the upper trendline, with a CLOSE entirely above the trendline and SOLID volume uptick.
TP1 : 1.262 (+20%)
TP2 : 1.303 (+35%)
SL : keep it tight just below previous 4hr close before the breakout.
Bearish Scenario:
Entry : at the break of the lower trendline
TP : just above support around 0.7215
SL : just above the price of the breakout
Trade safe,
Looking at the bounces in the RSI a solid recovery is possible. However there is weakness showing at PPO and MACD that still fully open at the 4H timeframe.
If broke on the upside 2 TP are achieavable with low downside risk if confirmed by solid volume and steady increase.
If a bear scenario develops a shortplay could be actioned until around support level.
Bullish scenario:
Entry: at the break of the upper trendline, with a CLOSE entirely above the trendline and SOLID volume uptick.
TP1 : 1.262 (+20%)
TP2 : 1.303 (+35%)
SL : keep it tight just below previous 4hr close before the breakout.
Bearish Scenario:
Entry : at the break of the lower trendline
TP : just above support around 0.7215
SL : just above the price of the breakout
Trade safe,
Trade closed: target reached
TP1 Reached, over 20%
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