EOS Macro Picture
Hello dear crypto friends! ;)
After breaking the Daily EQ bullish with 17% (around 8% for me personally), EOS/USD is at a key Daily resistance currently. The bull flag on the Daily is extremely narrow = strong. Volume is strong. We already saw a bull-break, but 4,5 is gonna be the psychological level to break.
Should we get a definitive break above this resistance, we could potentially be reaching the Equilibrium zone before the November break-down, at 5-6 Dollars. That would give around 15-35% in profits.
Accompanied could this the EOS/BTC chart: After passing the important resistance zone at .09-.10, our next weekly S&R zone comes in at .125-13, which is around 15%.
All of this should be accompanied by the correlation to grandpa Bitcoin: If BTC now manages to break at least until 4.2-4.4, this would be a perfect sign for EOS to go. Obviously if BTC rejects from this zone, EOS could even fake-out & turn around. EOS has always been a high beta version of BTC: it seldom makes it's own moves against BTC, it's highly correlated. Therefore BTC should at least be neutral/go slightly upwards, for this scenario to happen.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. I had talked about the Equilibrium break in my last analysis & told you exactly how I'm gonna play it, follow me so you don't miss out next time! I wish you a wonderful weekend! ;)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
After breaking the Daily EQ bullish with 17% (around 8% for me personally), EOS/USD is at a key Daily resistance currently. The bull flag on the Daily is extremely narrow = strong. Volume is strong. We already saw a bull-break, but 4,5 is gonna be the psychological level to break.
Should we get a definitive break above this resistance, we could potentially be reaching the Equilibrium zone before the November break-down, at 5-6 Dollars. That would give around 15-35% in profits.
Accompanied could this the EOS/BTC chart: After passing the important resistance zone at .09-.10, our next weekly S&R zone comes in at .125-13, which is around 15%.
All of this should be accompanied by the correlation to grandpa Bitcoin: If BTC now manages to break at least until 4.2-4.4, this would be a perfect sign for EOS to go. Obviously if BTC rejects from this zone, EOS could even fake-out & turn around. EOS has always been a high beta version of BTC: it seldom makes it's own moves against BTC, it's highly correlated. Therefore BTC should at least be neutral/go slightly upwards, for this scenario to happen.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. I had talked about the Equilibrium break in my last analysis & told you exactly how I'm gonna play it, follow me so you don't miss out next time! I wish you a wonderful weekend! ;)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Related publications
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.