After a 53% drop in price since mid Feb EOSBTC is finally starting to show signs of reversing from its non-stop downtrend, what comes down must go up.
On the 4HR TF we are seeing a Sym triangle forming with potential bullish play to the upside if broken & retested triangle as support, this is currently supported by
a change in market structure, from consistent LH/LL's to now forming a HL & potentially a HH this could be the deciding factor for EOSBTC in the coming few days.
Short term bullish play;
Would need to see a clean break of upper trendline in Sym triangle broken then re-tested as support, with short term TP at 2895 on previous high structure.
Long term bullish play;
Once HH structure has been set in stone, will be looking to take long positions on the next HL pullback. If bullish momentum does play out I will be updating this chart
with my entry positions, SL's & TP's so stay tuned !
LEARN TA! At MBA we teach technical analysis from the basics up, learn to trade with our veteran traders with a community of 200+ other traders;
Link in profile description!
On the 4HR TF we are seeing a Sym triangle forming with potential bullish play to the upside if broken & retested triangle as support, this is currently supported by
a change in market structure, from consistent LH/LL's to now forming a HL & potentially a HH this could be the deciding factor for EOSBTC in the coming few days.
Short term bullish play;
Would need to see a clean break of upper trendline in Sym triangle broken then re-tested as support, with short term TP at 2895 on previous high structure.
Long term bullish play;
Once HH structure has been set in stone, will be looking to take long positions on the next HL pullback. If bullish momentum does play out I will be updating this chart
with my entry positions, SL's & TP's so stay tuned !
LEARN TA! At MBA we teach technical analysis from the basics up, learn to trade with our veteran traders with a community of 200+ other traders;
Link in profile description!