Eidoo VS Bitcoin yet to hit Downside TargetEidoo has been steadily declining since the end of April when price has reached 3143 satoshis high. Since then EDO already lost to BTC over 50% and it seems that the downside momentum hasn't ended yet.
EDO/BTC has formed a strong resistance at 1655 satoshis, that has been rejected multiple times, with the latest bounce occurred on the 7th of July. Price continues to move down within the descending channel and could be heading towards the lower trendline.
Fibonacci applied to the First corrective wave of the descending channel shows that the strong support is located at 1180 satoshis, that is 327.2% Fibs. This could be the first downside target for Eidoo, but if broken, next support is seen at 1000 satoshis psychological level.
All-in-all the support area is between 1180 and 1000 satoshis where the downtrend could be ending. But at the same time the upside reversal could be the case, but only if price manages to break above the 1655 satoshis resistance.
EDOBTC
EDO/BTC downside invalidated for nowPrice it has increased as the crypto market is on an uptrend on the short term. It approaches the lower median line (lml) and could jump also towards the inside sliding line (sl). I've told you in the previous week that only a valid breakdown below the outside sliding line (sl) will confirm a further drop. the current rebound it is somehow natural after the failure to approach and retest the 50% Fibonacci line of the descending pitchfork.
EDO/BTC rebound in playEDO/BTC is somehow expected to increase further on the short term after the gap up. It could be attracted by the confluence area formed between the wl1 and the 50% line.
Eidoo VS Bitcoin To Form Double TopEidoo seem to be forming a head and shoulders reversal pattern. The current support is clearly at 2100 satoshis, which also was a support back in the beginning of February. Now it could be the time when EDO/BTC is forming the right shoulder and if that is the case a correctional move down could take place.
Nevertheless, the trend now seems to be bullish and price could continue moving up without a correction. The upside target is seen at 727.2% Fibonacci retracement level that is a potential double top, near 5k satoshis area.
On the downside, it is unlikely that the downtrend will continue, although as has been already mention, a correctional move down is possible to complete the H&S pattern.
EDOBTC. Small trade.Small trade, profit will not be as high as previous operations, but I think it can go up and even quickly, the volumes are good.
I recommend keeping a low stop loss as I put in the chart, about 6%
EDOBTC mid-term (Eidoo what is happening right now?)Look at that weird vol and the golden crossed already.
Next event:
- (9 May) New snapshot date for the Eidoo Ubiatar airdrop. Recipients will receive up to 130 UAC tokens. Distribution starts on June 24th.
I think its good chance to invest on mid-term with this gem.
The target is the fibo levels:
- target 1: 2860
- target 2: 3260
- target 3: 3660
- target 4: 4248
- target 5: 4594
Happy trading!
Linh,
EDO Eidoo airdropEDO announce aidrop on May 9th, so before that we could expect significant rise.
coinmarketcal.com
Eidoo: Potential 100% ProfitTarget are listed in the chart.
Just had an initial breakout. (high volume!)
I expect it to find support at the down trendline, and ready to take off!!
Happy trading!
Volume might come in again...EDOBTC is in a beautiful triangle right now and testet the pattern 6 times right now, which means a strong upward trend is buildung up.
If the pattern is confirmed, we might aim at the target @25400sat, if not we will go down to the next suppot line. But time will tell.
Trade at your own risk!
Happy trading.
EDO/BTC UPDATEThink the pattern is still strong and will form, but I've never supposed it could be so diagonal.
EDO2 bullish patterns are looking good on the chart.
Note: this is risky. everyone should take their own decises.
Buy EDOSignal for BINANCE:EDOBTC
To trade I place 3 orders. If the order wasn’t executed, I remove it at the end of the week and see if there are other opportunities for same pair. If order was triggered I keep it till the SL or TP. Order could be modified as well depends on the market, if so I will update the trade with the comments.
1. 1% Order @ 0.0002186
SL: 0.0002009 (-8%)
TP: 0.0002366 (8.2%)
2. 1.5% Order @ 0.0002009
SL: 0.0001719 (-14.4%)
TP: 0.0002186 (8.8%)
3. 2% Order @ 0.0001898
SL: 0.0001719 (-9.4%)
TP: 0.0002186 (15.1%)
To place take profit (TP), stop loss (SL) and Trailing I use 3commas services. Register and get 10$ on your trading account.
Eidoo Eidoo 4H TF Bitfinex
Broke out of downtrend, forming bullish pennant.
Needs volume, looks better on Binance.
