EOS detailed TA of the whole correction,atm on a crucial supportStarting of with the correction, from the top to the bottom.
Well expected- EOS compared to most of the coins in the top 10-15, during the last bull run, by far had the highest gains, from bottom 3.9$ to the top of 23$. Currently it can easily be said that an ABC correctional wave down to about 7-8$/0.786 ret line has been completed.
What can be said for the future? The 0.786 support, has been decently broken, but to some extent it is holding still, mostly because it's on an the angle line support, from the previous correction. Here, the crucial point will be, if bitcoin holds it ground around the current levels, or eventually seeks a strong bounce from the 5400-5600 support zone.
Lately Eos longs have somewhat recovered, and I could see that trend continuing, unless the bears successfully push the price bellow 6.8$. Current entrance on bitcoin/EOS offers quite a good risk/reward(Stop-loss bellow 6.8$), hence my strategy this time is long on EOS.
Overall, I do expect an uptrend from EOS, and a positive price action this weekend, but only time will tell.
Do comment your thoughts, additions or critics, as this is quite a critical time for EOS also.
-Happy trading folks-
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Disclaimer:
//This is not a buy or a sell sign, you decide what to do with your own money!//
If you liked my take on EOS, or other markets, agree or follow for more interesting ideas, it's all very much appreciated, cheers!
