BQX/BTC First 4hr 20EMA Close Above Since Sep 1st, BULLISH!
TECHNICAL ANALYSIS:
Ethos ( BQXBTC ) has just made a close above the 4hr 20 EMA for the first time since Sep 1st. The rest of the crypto market looks set to be on at least a short-term bullish trend. If this rally plays out, I expect Ethos to clear the 0.236 fib and potentially form 1 of 2 inverted H&S patterns, targets laid out on chart. It's possible both inverted H&S could play out if BTCUSD makes a run to test it's last highs at $7400. A close below 0.00004759 satoshis would count as a fail in this bullish outlook for me. Best of luck out there!
FUNDAMENTAL ANALYSIS:
Ethos ( BQXBTC ) has not had the best of years just like the rest of crypto. However, Ethos is one of the few coins to drop well over 90% from it's ATH (Jan 2018) against both BTC and USD. Much like Amazon when they only sold books back in the dot com bubble (who also took a 90%+ dive in price way back then), Ethos also has a working product and are planning a vast expansion over the coming months and years. Their end game is to replace Coinbase as the gateway to crypto, with lower fees and easier access. Their app is already functioning and available on Google Play and the Apple App Store and will soon introduce a FIAT gateway allowing new users to purchase virtually any cryptocurrency with a debit or credit card, they also plan to integrate the traditional financial markets within their app allowing anyone to buy any financial product with any form of currency and vis-versa.
Ethos ( BQXBTC ) has just made a close above the 4hr 20 EMA for the first time since Sep 1st. The rest of the crypto market looks set to be on at least a short-term bullish trend. If this rally plays out, I expect Ethos to clear the 0.236 fib and potentially form 1 of 2 inverted H&S patterns, targets laid out on chart. It's possible both inverted H&S could play out if BTCUSD makes a run to test it's last highs at $7400. A close below 0.00004759 satoshis would count as a fail in this bullish outlook for me. Best of luck out there!
FUNDAMENTAL ANALYSIS:
Ethos ( BQXBTC ) has not had the best of years just like the rest of crypto. However, Ethos is one of the few coins to drop well over 90% from it's ATH (Jan 2018) against both BTC and USD. Much like Amazon when they only sold books back in the dot com bubble (who also took a 90%+ dive in price way back then), Ethos also has a working product and are planning a vast expansion over the coming months and years. Their end game is to replace Coinbase as the gateway to crypto, with lower fees and easier access. Their app is already functioning and available on Google Play and the Apple App Store and will soon introduce a FIAT gateway allowing new users to purchase virtually any cryptocurrency with a debit or credit card, they also plan to integrate the traditional financial markets within their app allowing anyone to buy any financial product with any form of currency and vis-versa.
Trade closed: target reached:
Well, we failed at the 0.618 this time, took longer than expected but first target hit, exited about 40% up over all. Another day for a BQX rally.