EOS Technical Analysis: BOTTOMING OUT OR LOOK OUT BELOW?

EOS continues to show weakness. Price has collapsed below both trend lines. While we might see a slight bounce in the short term, I don’t believe we’ve seen the bottom.

Zooming out on the weekly chart below, we see the body of the 4 prior 1 week candles all found support at $4.96. They wicked through, but the body remained at or above $4.96. We still have 2 days before this weeks candle closes. If the body closes below $4.96, it could be a sign of much lower prices to follow.

The daily MACD just crossed into bearish territory.

In today’s video analysis, I discuss where the bottom might be, what to expect in the short term, possible Elliot counts and MUCH more information not found above. I hope you find it helpful.

Video Analysis:

If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.

BIAS:

Short Term: Slightly Bearish
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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