EOS/USD Inverted H&S

Hi everybody,
It looks like that the EOS is forming an inverted Head and Shoulders pattern and if it triggers and completes, it will be a quick 20% to 50% bull run.

Comment:

As soon as the EOS price start consolidating and the pattern is formed and ready I will publish the updates as a new idea with:
1-Entry price (that will be also the point that the pattern is triggered and the bull run starts)
2-Stop loss (in case that the price don't move in the way that we expect it)
3-Also all the expected targets to take profit

Comment:

Since the bitcoin pullback wasn't successful and the price continued to move up, probably the the EOS inverted Head and Shoulder pattern will be triggered earlier than we thought. However the overall expectation is still the same. In 15m time frame a symmetrical triangle is forming and I think if the price break out of it will also trigger the inverted H&S pattern as well so we can be in trend earlier with tighter stop loss and big risk to reward ratio. If this pattern completes I will share it here.
Thanks

Comment:

Comment:

Hi
Looks like finally BTC price is pulling back to form a higher low so the trend become safer and stronger to continue. Check the BTC/USD chart below:

Therefore, the EOS price is dropping and as in main idea we draw some lines we expect the price to fluctuate and consolidate in form of symmetrical triangle (a repeated pattern in crypto charts) and then break out to the upside that (with high probability) will trigger the inverted H&S pattern and we can be in trade earlier with lower risk and higher reward. As soon as we get close to the break out and the pattern is formed based on my expectations I will releas a new idea with details in 4h time frame.
Thanks

Comment:

Looks like the inverted H&S wouldn't be triggered. It completely depends on BTC price behavior which recently has been showing bear signals and I hope good news come out of ETF decision otherwise with high probability bitcoin will drop sub 5k. However as long as the price is above the head this pattern may be triggered.