Eos had a magic run last week. It was anticipated but still it's crazy to see how these assets can reach those high levels in a short period of time. Even if assets have nothing to show for. EOS still needs to prove it will be worth anything but with the mainnet launch coming in a month we will figure this out soon enough.
Back to the TA part.
EOS needed a break after this parabolic run. We know the temporarily top was around the 23 dollar range so if we take our fibonacci retracement tool we would assume EOS should retrace to the 0.5 - 0.618 level which will be around 11-13.5$.
But with this EOS bullishness it is quite common for a asset to not retrace that much and only reach the 0.382 level. Where we are now.
For now I assume this is the retracement until proven otherwise. The r/r (risk reward) is worth it to enter EOS now with a stoploss to not get caught in a further retracement.
I expect the next EOS run to at least reach the levels 27.8-30.6$ which is another 95% profit.
When these levels are reached it will be wise to at least set a stop just beneath or a trailing stop. The last run has shown us that EOS doesnt care too much about certain levels and could run right through it. But there will always be a breather or slight pullback.
Anyway I'm expecting a lot of firework leading up to mainnet launch.
.............................
Never ever trade based on someone else's advice. Do your own research. You have nobody to blame but yourself when a trade goes south. The other way around is true as well. you have no one to pat on the back but yourself when a trade goes in your way.
Back to the TA part.
EOS needed a break after this parabolic run. We know the temporarily top was around the 23 dollar range so if we take our fibonacci retracement tool we would assume EOS should retrace to the 0.5 - 0.618 level which will be around 11-13.5$.
But with this EOS bullishness it is quite common for a asset to not retrace that much and only reach the 0.382 level. Where we are now.
For now I assume this is the retracement until proven otherwise. The r/r (risk reward) is worth it to enter EOS now with a stoploss to not get caught in a further retracement.
I expect the next EOS run to at least reach the levels 27.8-30.6$ which is another 95% profit.
When these levels are reached it will be wise to at least set a stop just beneath or a trailing stop. The last run has shown us that EOS doesnt care too much about certain levels and could run right through it. But there will always be a breather or slight pullback.
Anyway I'm expecting a lot of firework leading up to mainnet launch.
.............................
Never ever trade based on someone else's advice. Do your own research. You have nobody to blame but yourself when a trade goes south. The other way around is true as well. you have no one to pat on the back but yourself when a trade goes in your way.
Comment:
Dont look at the line chart in the background. This is the ETH fractal which shows some comparisons but fractals only work till they dont.