EOS/BTC looks over-extended for now, looking for a long.
EOS/BTC has been making higher highs while RSI (4H timeframe) consistently made lower highs, meaning the trend is losing strength which is to be expected after such a strong breakout/parabolic move.
I would look for a long preferably in the lower blue box but I really don't know if we can get there. EOS is a fucking monster when it pumps, might have to fish for a bottom after the next retrace.
Note that this alt is mostly traded in USD, which pair is nearing ATH along BTC pair encountering some -minor- resistance at this level. I would definitely expect a retrace soon.
I will update this idea when/if I pull the trigger on the long.
I would look for a long preferably in the lower blue box but I really don't know if we can get there. EOS is a fucking monster when it pumps, might have to fish for a bottom after the next retrace.
Note that this alt is mostly traded in USD, which pair is nearing ATH along BTC pair encountering some -minor- resistance at this level. I would definitely expect a retrace soon.
I will update this idea when/if I pull the trigger on the long.
Comment:
Dead wrong on this one, I will update if I find a good entry in the future, I won't touch it until it retraces for some time and reaches a good support level to provide a nice R:R setup.