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Long

EOS Token (EOSZ18) on BitMEX Going Bull (80% ROE)

By AlanSantana
Updated
EOS Token (EOSZ18) is looking bullish after a strong drop. Let's take a look closer look at why.


EOS Token (EOSZ18) Chart Analysis by Alan Masters

  • We can see a huge increase in green volume after the 7th Dec. drop. This is true on both time frames (4H and 1D).
  • The RSI has come out of oversold and is already on the bullish zone (4H TF).
  • Now trading above EMA10 with good momentum.
  • MACD is also showing good momentum.
  • RSI is massively oversold on the daily time frame (right hand chart).
  • We have a hammer candlestick followed by a good volume bounce.
  • Bullish action expected for next week.
  • A close below stop loss would invalidate these signals.
  • Hit LIKE if you enjoyed this analysis.


Thanks a lot for your continued support.

Have a great week ahead...

Alan Masters here...

Namaste.
Note
Moving up slowly... Patience is key.
Note
Slow and steady growth for EOSZ18.

Volume is good.

We are now above EMA10 and EMA50 on the 4h time frame, this is a good signal... Price needs to remain above so that it can move to EMA100: snapshot
Note
Make sure to secure profits (sell for profits).

Namaste.
Note
Ascending triangle: snapshot
Note
Our ascending triangle can also be seen as a rising wedge, which is a bearish pattern...

snapshot

Up or Down? We will let the market decide.

If EMA10 is broken then you can expect a move down... On the other hand the short term trend is up.
Note
Looking better now: snapshot
Trade closed: target reached
You can expect additional bullish action for EOSZ18.

In the meantime, you can enjoy 80% ROE.

Thanks a lot for your support.

See you at the next one.
alanmastersBeyond Technical AnalysisbinanceBitcoin (Cryptocurrency)bitmexbittrexEOSEOSBTCeostokenEOSZ18Technical IndicatorsTrend Analysis
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