In my last EOS update I said we could expect wave 2 to bounce inside the golden pocket (0.618-0.65 fib level). I told you I was going to enter a quick scalp trade at $7.60 with a conservative target of $7.95. Here’s my chart from then:
Since then, my wave 2 target was hit, as was my conservative $7.95 target. If you got in on this trade, congratulations. If not, there will be plenty of opportunity ahead (Watch my video at the bottom for more detail).
Looking at the 4 hour chart, we can see the 8, 21 and 55 day EMA’s are converging on each other, as is the 50 and 200 day MA. This often happens when a larger breakout is preparing to take place in the near future.
My bullish count over the next 2 weeks targets wave 3 at the 1.618 fib ($12.09). Volume will have to increase for this to play out. Here’s how it might look:
EOS has a great deal of resistance to break through if the above count is to become a reality. In the short term, it must break above the prior high of $9.45. Should that happen, I think it'll quickly rise to the $10.30-$10.90 supply zone. Below are the big picture key resistance and support areas.
Watch my video analysis for MUCH more detail not found above. If you’re not watching my videos, you’re only getting half the story.
If you’re viewing this on a site other than Steemit, and you don’t see the below video, navigate to Steemit in order to watch.
Video Analysis:
BIAS:
Short Term: Bullish
Longterm: Bullish
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Workin
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by Workin2005
What a great video, love your work. Just hold every token you buy right now with Larimer talking about staking rewards of annually -+ 10% plus airdrops. It's a wealth builder investment.
Thanks @eaglet. I couldn't agree more about staking.
I sold all my eos and bought tron; soon as tron hits a dollar I'm rich
I wish you all the best @wales. I'm kind of neutral on TRON, but I certainly hope it works out.