Crypto Analysis Report 5-25-18 EOS...Left The Demand Zone At $11
I last posted about EOS almost one month ago,
I mentioned not to chase price and gave two demand levels to get in EOS to go long.
The level at $14 was breached. Examining price action on the 4 hr chart showed us we really didn't get any signs that price wanted to go higher.
Price then went down and entered the $11 level and left the zone this morning. Looking at the price action on the 4 hr chart we saw the structure I usually look for before getting into a trade to go long. The structure is a leg in candle, basing candles, followed by a leg-out candle..which typically confirms price will move higher.
If price is going to move much higher, price must take out the $14.25 first.
Target 1 - $18 and Target 2 - $22.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.
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It's interesting you mention the supply at $14.25. I had a look at my charts and its also the origin of a downward breakout pattern.
That area might be a tough nut to crack :D
Agree, it's supply on a lower timeframe, which is why I mentioned price has to get pass that level, before EOS has a chance of going higher. But on the daily chart, there is daily supply at $18 and $22.
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