For those of you who haven't followed EOS too closely lately it's more than 5x the price it was a month or so ago. I started dollar cost averaging back when it was declining and my first buy was above $2 and my lowest buys were around $0.60.
I hadn't paid much attention to it until a couple of weeks ago when it really started taking off. This morning I looked at the chart and was happy to see that now every single buy I've made is now profitable.
EOS / USD Daily Chart
chart courtesy of https://www.investing.com/currencies/eos-usd-chart
That last candle broke above the upper Bollinger band and the RSI is in overbought territory (above 80) on the daily time frame so I am NOT buying right now, just excited to see some gains.
I'm far from finished accumulating and hoping for a bit of a pullback. Fortunately we still have another six months or so of the ongoing distribution and I'd be surprised if we didn't see a drop in the next month or so as the RSI needs to cool off a bit.
This rally seemingly came out of nowhere and I and a lot of others had thought the price might hover around 50-60 cents a bit longer. I am still puzzled as to why it's taking off so early as more is being created and sold until June 2018.
Needless to say I'm HODLing this one. I'll be curious to see what the price is in June of the coming year. I'm not making any price predictions now but if any of you want to take a stab at it feel free to leave a comment.
And if any of you Elliot Wave folks have some ideas about how much it could / should / might pull back I'd also be interested to hear them.
Hopefully one day my dollar cost averaging into multiple cryptos will pay off big and I won't have to work quite as much. But for now I better hit the road as I'm working this Saturday :(.
This does not constitute investment advice and is for entertainment purposes only. Always do your own due diligence and for the love of God don't put money into anything just because of a steemit post by some novice knucklehead like m myself.
Have a good weekend all!
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It's trending up because Dawn 2.0 releases on December 4th.
Thanks for the info I wasn't aware of that! I've been basically living at work lately so I have very little time to keep up with current events.
Elliot wave predictions do not work on this unique distribution of tokens. But EOS is still the top choice for me, even after this huge pump.
Yes I'm not as big into EW predictions even though they can be accurate in prediction sometimes. I used to trade stocks short term but with cryptos one can usually just buy and hold and eventually make a lot of money most of the time.
Your not lying.. This EOS is not messing around, Kicking @$$ and taking names!! Good luck and Keep On Steemin On!! 🤘🏽😎🤘🏽
In EOS we trust!! And still is cheap!!
Yes sir I'm gonna keep buying but I want that RSI to cool off a bit. I think we'll see it back under $3 again eventually. I really wish I'd put about $1000 into it when it was 60 cents. Good lord.
Congratulations. it has been run up wildly and uptrend continue.
I let go at 2.4. missed the opportunities quite a bit.
It took me by surprise for sure. I felt stupid for buying over $2 some months ago and then it dropped so much but even that purchase is green now.