EOS equilibrium possible
Hey guys, EOS might be building an equilibrium here, the break of which will highly depend on grandpa BTC.
We formed new 4H Higher Lows at 7.25 at the 78.6% fibo level, and Lower Highs at 8.25 -now we have room for a nice consolidation in between before we break out. 12 EMA is support, while 26 EMA is resistance.
Obviously the bulls are looking for the break of 8.5 eventually -which was the previous neckline. So no matter what direction we break, it will be potentially a nice play. No matter what you do here: Look closely at BTC. EOS is right now basically a leveraged BTC play: BTC goes up 1, EOS goes up 3, BTC goes down 1, EOS goes down 3. This is clearly seen in the EOS/BTC direct correlation, which is almost identical to the EOS/USD chart. => I talked about this exactly in today's video of the Crypto Chart Analysis (description in my status).
I wish you a good trading! ;)
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
We formed new 4H Higher Lows at 7.25 at the 78.6% fibo level, and Lower Highs at 8.25 -now we have room for a nice consolidation in between before we break out. 12 EMA is support, while 26 EMA is resistance.
Obviously the bulls are looking for the break of 8.5 eventually -which was the previous neckline. So no matter what direction we break, it will be potentially a nice play. No matter what you do here: Look closely at BTC. EOS is right now basically a leveraged BTC play: BTC goes up 1, EOS goes up 3, BTC goes down 1, EOS goes down 3. This is clearly seen in the EOS/BTC direct correlation, which is almost identical to the EOS/USD chart. => I talked about this exactly in today's video of the Crypto Chart Analysis (description in my status).
I wish you a good trading! ;)
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;)
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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