BINANCE:EOSUSD   EOS / US Dollar (calculated by TradingView)
ANALYSIS πŸ”Ž
- This is a double trade setup.
- EOSUSD is printing a major double bottom pattern.
- This is a bullish reversal pattern.
- At the right bottom, price action is printing a minor inverse head and shoulders pattern.
- This is also a bullish reversal pattern.
- RSI is also printing a bullish divergence signal.
- EOSUSD could be on the verge on a Long term uptrend.


FIRST SETUP
- This setup is the minor inverse head and shoulders pattern formation on the right bottom.
- This is a trend reversal pattern
- Bullish pattern to be precise.
- Price is approaching the inverse head and shoulders neckline resistance (1).

Buy entry ⬆️:
Aggressive (risky) - current market price (now).
Conservative - breakout above the inverse head and shoulders neckline resistance (1).
Targets 🎯: horizontal resistance level R2, horizontal resistance level R3 (neckline resistance (2)).
Setup invalidation ❌: breakdown below the right shoulder's horizontal support level (S1).


SECOND SETUP
- This setup is the major double bottom pattern.
- This depends on a successful outcome of the first setup.
- Price will be testing the double bottom neckline resistance (2).
- Potential breakout above the neckline resistance (2).

Buy entry ⬆️: breakout above the double bottom neckline resistance (2).
Targets 🎯: horizontal resistance level R4, All Time High ( ATH ) resistance, MOONπŸ”Ό.
Setup invalidation ❌ - Breakdown below the All Time Low ( ATL ) horizontal support level .

Enjoy πŸ₯‚

Comments

Rarely see people analyze crypto on a weekly timeframes.. regardless it is a superb analysis.. I will definitely watch out for an entry. Thanks Chibs.
+3 Reply
Chibuike_Odoh okibe4obinna
@okibe4obinna let's get that bag mate πŸ‘
Reply
party about to start. dont be late
+1 Reply
Chibuike_Odoh fahmi_amoi
@fahmi_amoi I'm already in (aggressive entry)
Reply
I believe your analysis is bang on. Just need to take out those sellers at $5.50 and around $8 then clear road higher.
+1 Reply
Chibuike_Odoh MoretonDangerous
@MoretonDangerous let's catch this pump πŸ‘
+1 Reply
CLEAN CLEAN
+1 Reply
Chibuike_Odoh AlkalineFX
@AlkalineFX thanks mate πŸ‘
Reply
EOSUSD
+1 Reply
Chibuike_Odoh Chibuike_Odoh
@Chibuike_Odoh πŸ‘
Reply
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