EOS - MOVING INTO BUY ZONE, BULLISH DIVERGENCE!

EOS has been falling 6 June. The price has depreciated by 52%. At the moment, EOS has found support around 100k satoshi level and had a good rebound.

EMA(9) smoothed over RSI has generated a Buy signal on 4-H TF.

A look at the MACD:

Currently, it is moving under EMA(26).

Moving closely to EMA(12).

The first profit taking target can be 0.236 Fibonacci level. The Risk/Reward ratio is: 5.43 which makes this trade a really great one.

You can wait for it to break the resistance of the wedge too before opening any longs.
(I can post the chart with in depth analysis using indicators if people need it, but as for now, this should suffice.)

P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at your own risk.

Keep an eye out. Trade safely. Always remember, money not lost is also a profit.

Good luck trading.!
Peace.

Comment:

BTC Plummeting due to this and the whole market is taking a hit. Trade with care.
There may be some absurd movement in price so watch out.!

1> www.sec.gov/news/pub...rce-dissent-34-83723

2> www.sec.gov/rules/ot...er/2018/34-83723.pdf

Comment:

Rejection from the upper boundary of the wedge.!