EOS - Price Structure
Updated
Traders, I hope you're all having an excellent weekend.
EOS/BTC was requested by one of my followers and I found the price structure extremely interesting, therefore, I'd like to share my thoughts with you all.
The chart shown is on the daily timeframe.
Considering this asset only has over 5 months worth of price history, it has more to show than the vast majority of cryptocurrencies in the top 50.
As soon as EOS became available we experienced an impulsive move over several days, followed by a 96% decline.
Once the bottom was found during late October, price climbed over the period of 5 weeks amounting to a 386% increase.
We're currently experiencing a correction period which is less than 45% as we speak, I'm expecting price to drop to the support level indicated which would be a 51% correction.
This would be a key area to buy EOS in my opinion, at 0.00020000.
Feel free to contribute to this analysis, if you have anything to share leave a comment below.
EOS/BTC was requested by one of my followers and I found the price structure extremely interesting, therefore, I'd like to share my thoughts with you all.
The chart shown is on the daily timeframe.
Considering this asset only has over 5 months worth of price history, it has more to show than the vast majority of cryptocurrencies in the top 50.
As soon as EOS became available we experienced an impulsive move over several days, followed by a 96% decline.
Once the bottom was found during late October, price climbed over the period of 5 weeks amounting to a 386% increase.
We're currently experiencing a correction period which is less than 45% as we speak, I'm expecting price to drop to the support level indicated which would be a 51% correction.
This would be a key area to buy EOS in my opinion, at 0.00020000.
Feel free to contribute to this analysis, if you have anything to share leave a comment below.
Note
In comparison to the EOS/USD chart, price has now re-tested the all time high and the support trendline is holding extremely well.The price structure is similar, almost as if EOS/USD is a month ahead :)
Taking a position based on a close above the ATH and EOS/BTC reaching solid support would be a good move.
📈 Master the Art and Science of Trading: sixfigurecapital.com
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