EOS bulls under 8,5 neckline again
Hey guys, EOS bulls, similar to their BTC brothers, couldn't see any follow through yesterday, even though the deck was in their favor. While it is quite remarkble, that the bears neaded 6 bars in order to reverse one bullish candle, the proof is still up to the bulls - they need to show up.
Of course while doing so, they won't move without looking at their BTC bull brothers. We have broken previous 4H lows and perfectly retraced until the 61.8% Fibo level with the low at 7.52, and now we need to hold that for further upside potential to the neckline at 8,5. The direct correlation as seen in EOS/BTC paints a pretty similar picture to the USD chart, meaning that EOS basically does whatever BTC does -just more leveraged.
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;) (description in my status)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC
Of course while doing so, they won't move without looking at their BTC bull brothers. We have broken previous 4H lows and perfectly retraced until the 61.8% Fibo level with the low at 7.52, and now we need to hold that for further upside potential to the neckline at 8,5. The direct correlation as seen in EOS/BTC paints a pretty similar picture to the USD chart, meaning that EOS basically does whatever BTC does -just more leveraged.
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;) (description in my status)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC
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