EOS Technical Analysis: THE BEARS TAKE OVER
Yesterday I suggested EOS was ripe for a breakout. The signs were there for a larger move to take place. It certainly did breakout, just not in the direction we were hoping. Price dropped to the $5.30 support, barely acknowledging other areas of support along the way.
Looking at the 4 hour RSI, we can see it’s very over sold at around 24. I wouldn’t be surprised to see a bounce up to $5.70 in the next 8 hours or so.
The daily chart reveals price collapsed below the 21 day EMA...a very bearish sign.
In today’s video analysis, I discuss price movement in the short term, traps to avoid, my Elliot wave count and MUCH more information not found above. I hope you find it helpful.
Video Analysis:
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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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by Workin2005
Again no surprise for me and I think my wish of EOS going to around 4.00 again is a real possibility.
My buy orders still remain stacked between $4.00-$3.50
$3 is the long term support price for EOS. I see this level as likley.
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