thecryptohawk

thecryptohawk

Someone missed a dose! Clear downtrend for EOS Hold off on long positions until a clear reversal

thecryptohawk

Ok ok.....probably not the best metaphor, but when I came up with it it sounded okay. Even if the King decides to sit back behind the wooden fence lines and the tall concreteish walls while the bulls stampede up the dirt felt ground at least he'll have a good view. I'll work on those metaphors, but in the meantime let's take a look at a possible scenario....

thecryptohawk

If you'll take a look at the 1D chart of the BTC/USD pairing, you will see a possible Inverse Head and Shoulder pattern forming. If completed, this may signal a bullish reversal and could lead to a breakout once the 12000 level is reached. However, if it fails to complete the IH&S pattern BTC could continue trading sideways in consolidation or allow the Bears to...