EOS / Bitcoinמעודכן EOS! What to except before Mainnet release?
Hello Traders,
As the mainnet release is approaching, EOS is potentially ready for another pump!
Looking at the 4 hour chart, we see that EOS is forming a bullish flag pattern, which means we can except some profit when EOS breakout from this formation.
The target for this trade can be a little bit tricky, but let me explain my logic behind 3 targets I am thinking in short term.
Target 1 (green box):
As you can see the green channel that I drew in the 4 hours chart, we see that bottom of this channel has acted major resistance for 2 weeks. Therefore, I expect some resistance around this area. After reaching to the first target, I want to see EOS to find support at 17613 Satoshi in order to reinforce this area as a support again before its next rally.
Target 2 (red box):
This is the target for the bull flag breakout. If EOS reaches to this point, then I expect it to find support at the bottom of the green ascending channel.
Target 3 (yellow box):
Top of the ascending channel. I am not sure we can reach to this target before the mainnet release, but I am fairly sure we can reach to this target on mid-term if you are patient enough. This area will probably act as extremely heavy resistance, and i expect EOS to retrace 50% fibonacci if it reaches to this point before mainnet release.
Happy trading!
PS: this trade only works if bitcoin does not crash. (I have feeling that bitcoin needs to reach 7100 before next rally, but lets see how everything goes in next few days or so)
As the mainnet release is approaching, EOS is potentially ready for another pump!
Looking at the 4 hour chart, we see that EOS is forming a bullish flag pattern, which means we can except some profit when EOS breakout from this formation.
The target for this trade can be a little bit tricky, but let me explain my logic behind 3 targets I am thinking in short term.
Target 1 (green box):
As you can see the green channel that I drew in the 4 hours chart, we see that bottom of this channel has acted major resistance for 2 weeks. Therefore, I expect some resistance around this area. After reaching to the first target, I want to see EOS to find support at 17613 Satoshi in order to reinforce this area as a support again before its next rally.
Target 2 (red box):
This is the target for the bull flag breakout. If EOS reaches to this point, then I expect it to find support at the bottom of the green ascending channel.
Target 3 (yellow box):
Top of the ascending channel. I am not sure we can reach to this target before the mainnet release, but I am fairly sure we can reach to this target on mid-term if you are patient enough. This area will probably act as extremely heavy resistance, and i expect EOS to retrace 50% fibonacci if it reaches to this point before mainnet release.
Happy trading!
PS: this trade only works if bitcoin does not crash. (I have feeling that bitcoin needs to reach 7100 before next rally, but lets see how everything goes in next few days or so)
הערה
EOS is dying to breakout from this bull flag. Despite bitcoin dip, EOS is still staying strong. Once we see Bitcoin recovers, we shall expect explosive rally. First target is 20000 Satoshi. עסקה פעילה
הערה
After the initial breakout, EOS found support at 38.2% Fibonacci level. There is a tiny bull flag (blue) within the black black bull flag.
My next target is 17838 Satoshi for the blue bull flag breakout.
הערה
הערה
I am so glad that binance just introduced EOS/USDT pair. The chart is actually much more easy to understand. Looking at the 4 hour chart for EOSUSD pair, we see that EOS is still within the bull flag. However, we see the pink trendline is acting as a very strong resistance at the moment. Breakout from the pink trendline as well as bull flag is a very bullish signal and target for this trade is $15.69. I will be trading with EOS/USDT pair now instead of EOS/BTC for this trade.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.