Hey guys, EOS might be building an equilibrium here, the break of which will highly depend on grandpa BTC.
We formed new 4H Higher Lows at 7.25 at the 78.6% fibo level, and Lower Highs at 8.25 -now we have room for a nice consolidation in between before we break out. 12 EMA is support, while 26 EMA is resistance.
Obviously the bulls are looking for the break of 8.5 eventually -which was the previous neckline. So no matter what direction we break, it will be potentially a nice play. No matter what you do here: Look closely at BTC. EOS is right now basically a leveraged BTC play: BTC goes up 1, EOS goes up 3, BTC goes down 1, EOS goes down 3. This is clearly seen in the EOS/BTC direct correlation, which is almost identical to the EOS/USD chart. => I talked about this exactly in today's video of the Crypto Chart Analysis (description in my status).
I wish you a good trading! ;)
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
We formed new 4H Higher Lows at 7.25 at the 78.6% fibo level, and Lower Highs at 8.25 -now we have room for a nice consolidation in between before we break out. 12 EMA is support, while 26 EMA is resistance.
Obviously the bulls are looking for the break of 8.5 eventually -which was the previous neckline. So no matter what direction we break, it will be potentially a nice play. No matter what you do here: Look closely at BTC. EOS is right now basically a leveraged BTC play: BTC goes up 1, EOS goes up 3, BTC goes down 1, EOS goes down 3. This is clearly seen in the EOS/BTC direct correlation, which is almost identical to the EOS/USD chart. => I talked about this exactly in today's video of the Crypto Chart Analysis (description in my status).
I wish you a good trading! ;)
If you find my analysis helpful, please like & subscribe, and watch my daily videos! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.