Hello and welcome to my latest very brief look at EOS vs BTC analysis on the daily log chart.
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As you can see we have just completed a massive cup and handle pattern stretching from July 2017 to current. If we can break out above the rim then we look set for a 200% increase over the coming 3 months or so!
Let me get this straight though, we have not broken out above the rim yet! And even if we do break out above the rim this is not going to be a straight shoot for the moon… We will of course zig zag our way up there offering many chances for short term trades.
Looking at the MACD/RSI we are building momentum so we have a pretty good shot of breaking out, however I would reframe from going this long until we have an actual confirmed break out with supporting volume. There is still a chance we will retrace from the current resistance we are facing; in which case we may form a smaller cup and handle pattern as shown in orange. If this occurs it still gives us a target increase of about 80%.
So feel free to follow as I post shorter term trades as we progress further.
Cheers
Great analysis, Im setting up to buy more coins so EOS is on the list.
I hit you with an upvote, and resteem.
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Wow how did your rating drom from (30) to (17) in one day.
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Ok great to see your rating is on the rise.
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Thanks, I hope you got onto this trade! We are approaching the smaller cup and handle target and the RSI is going oversold. Our momentum is still strong to the upside, however it is a great time to start taking laddered profits to the target zone to mitigate risk. This is because as soon as we hit the small cup and handle target (or close enough to it) we will definitely retrace, so keep an eye out for this and trade safely! I have no reason to believe the larger cup and handle won't play out, however as this formed over a period of 7 months we are still a long way from reaching the ultimate target zone and there will be plenty of volatility before now and then.
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I have been holding 15 eos coins bought at $5.00. I wish I added to the position.
When do you think is a good time to add some eos ??
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I was summoned by @heyitskolin. I have done their bidding and now I will vanish...
A portion of the proceeds from your bid was used in support of youarehope and tarc.
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