EOS technicals againt BTC and ETH

Looking at the Daily chart we could be setting up for a new bull run on EOS. The chart appears to be forming a Cup and Handle pattern, however you could argue this to be a bull flag forming instead. Either way, both bullish formations for the long term.

Moving down to the 2Hr chart we see no signs of bullish activity for the short term. We have broken down from an ascending support level and with the previous EMA cross I am personally looking for Short entries on this market. With no clear string support in the near term I believe we will see a move down to 90000sats and then on to 80000sats at recent lows. At this level I would hope to see signs of a reversal set up.

With EOSBTC looking weak and ETHBTC showing little signs of movement, this EOSETH chart is pointing me to another Short trade. All chart setups have broken to the downside and this current wedge could do the same. In my view we will see a move down to 95000sats and maybe lower if ETH receives some strength.

Margin trading is HIGHLY risky and not for the novice trader. If you in tend to short these markets keep your stop tight and limit your exposure to the market. RISK MANAGEMENT IS KEY.
This is not financial advice and not necessarily an indication of my intentions in the market.

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