ridethepig | EOS Spot Commentary 2019.12.18
Updated
EOS moving pretty much in sync with the rest of the Crypto board and broader USD devaluation. Strong inflows will continue to move it out of the range with upside pressure coming from the Global reflationary theme. Here being constructive on EOS and triggering ahead of the anticipated breakout, though has not yet developed the move will only be invalidated with a break below the $2 handle.
Things are a bit easier to track on the BTC chart:
Focus remains on the $3.25 resistance over USD devaluation. 4.50 and 7.50 remain the targets to watch.
Overall, I see the case for meaningful EOS and BTC strength in 2020, but especially if considered versus USD. Difficult to trade, for sure, but I still feel the bigger BTC risk lies to the topside and will move EOS as collateral.
Good luck all those buying dips in BTC and EOS and thanks for keeping the support coming with likes, comments, questions and etc!
Things are a bit easier to track on the BTC chart:
Focus remains on the $3.25 resistance over USD devaluation. 4.50 and 7.50 remain the targets to watch.
Overall, I see the case for meaningful EOS and BTC strength in 2020, but especially if considered versus USD. Difficult to trade, for sure, but I still feel the bigger BTC risk lies to the topside and will move EOS as collateral.
Good luck all those buying dips in BTC and EOS and thanks for keeping the support coming with likes, comments, questions and etc!
Trade closed: target reached
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