$EOS BTC - solid hold in turbulence - 100% gain 1:12 risk/reward
Good day ladies and gents,
It doesn’t get anymore technical than this so lets get right to the nitty gritty
1. Pull up any random coin and you’ll see at least a few red bars within the last 5 days. No sir, not for EOS. It tested the 9D MA once today and happily bounced from there. This speaks volume on the confidence coming from the HODLers of EOS.
2. The second wave’s correction took about .618 of the 1st, and this fourth wave looks like it might have finished just shy of the .618 target so it’s safe to assume that it has finished
3. Our 4th wave although looks smaller than our 2nd wave here due to the log scale but it actually retraced more than 50% of the 3rd wave, which is a relatively standard retracement for a 4th wave. It also have retraced more than the 2nd wave as far as pricing is concerned.
4. On 5/24 we clearly exited a channel that started on 4/29 and clearly have peaked above the high of 5/24
5. Our pivot is definitely at 17000 so a safe entry would be above the 17000 range with a stop below that
Entry: Buy stop at .00175
Stop below .0016250
Target: .0036, take half profit at .0024, and spread the rest all the way up to .0036
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
It doesn’t get anymore technical than this so lets get right to the nitty gritty
1. Pull up any random coin and you’ll see at least a few red bars within the last 5 days. No sir, not for EOS. It tested the 9D MA once today and happily bounced from there. This speaks volume on the confidence coming from the HODLers of EOS.
2. The second wave’s correction took about .618 of the 1st, and this fourth wave looks like it might have finished just shy of the .618 target so it’s safe to assume that it has finished
3. Our 4th wave although looks smaller than our 2nd wave here due to the log scale but it actually retraced more than 50% of the 3rd wave, which is a relatively standard retracement for a 4th wave. It also have retraced more than the 2nd wave as far as pricing is concerned.
4. On 5/24 we clearly exited a channel that started on 4/29 and clearly have peaked above the high of 5/24
5. Our pivot is definitely at 17000 so a safe entry would be above the 17000 range with a stop below that
Entry: Buy stop at .00175
Stop below .0016250
Target: .0036, take half profit at .0024, and spread the rest all the way up to .0036
Found this idea to be entertaining or absolute garbage? Feel free to let me know with a like or comment. As always, good luck and stay safe!
Kinashi-San
*The ideas and comments expressed herein are my personal opinions and should not be taken as financial advice. Being a trader, at any given point in time, I may or may not be holding the asset in question. This is not a recommendation to buy, sell, or hold.*
Comment:
What I see in the 4H is what looks like a 1-2 push of this fifth wave. Even though we got stopped out at .0016250, It might be worth considering entries at .00147 and .00153
