EOSUSDT Building up for breakout
Updated
EOS is currently in a falling wedge pattern with multiple failed attempts at breaking out. With BTC at ATH and considering it will have to retrace there's a likely chance EOS will follow the BTC movemen like many other altcoins did with the december 23rd drop (see similar patterns with other coins). So it is important to take BTCs current movement into account considering its retracement can have impact on the current EOS price level and can offer you a better long entry position. For now we need to see if it holds the 2.50 support area and can build enough momentum to break through the first resistance area at the 2.68 price level. You can take long positions according to your risk strategy. If you're more conservative, you can wait to take a position until the 2.68 resistance is broken and used as support.
Trade safely.
Trade safely.
Note
EOS broke out the falling wedge. We need to see if it consolidates on the resistance area and doesn't bounce back to support. If it holds, we can see further upwards movement.Trade active
Trade closed: target reached
Take profit ~300% @ 2.89
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