Welcome.
Fresh look at the most volatile margin coin. Performance is outstanding, giving opportunity to accumulate huge gains.
EOS behaviour is very bearish these days. Anyways, I see great buy case.
1. Price is near to high volume green candles levels.
2. 0.786 Fibonacci retracement is now crossed, but preceding candle has closed on it. This opens chance for bear trap.
3. Bollinger band is holding from the bottom.
Remember that cryptomarkets could plummet further and You should consider proper management before entering there. You should think about entry point also. In case of reversal, still there is very low possibility for new ATH, maximum 0.5 fibo could be reached.
Fresh look at the most volatile margin coin. Performance is outstanding, giving opportunity to accumulate huge gains.
EOS behaviour is very bearish these days. Anyways, I see great buy case.
1. Price is near to high volume green candles levels.
2. 0.786 Fibonacci retracement is now crossed, but preceding candle has closed on it. This opens chance for bear trap.
3. Bollinger band is holding from the bottom.
Remember that cryptomarkets could plummet further and You should consider proper management before entering there. You should think about entry point also. In case of reversal, still there is very low possibility for new ATH, maximum 0.5 fibo could be reached.
Comment:
Perfect bear trap, We have confirmation, ladies and gentleman! Price closed above 0.786 fibo creating nice image of whole formation!
Comment:
Price slipped a bit, but turned again not giving bears so much free diving. Double bottom will be confirmed after crossing and succesful retesting.
1hr chart
1hr chart