EOS, EOSBTC - Will It Make Another Inverse Head & Shoulder?
EOS, EOSBTC is currently in an interesting spot so let's take another quick look at the chart.
Analyses
- EOSBTC has recently made a very nice move up from a "textbook" inverse head & shoulder pattern (purple) as pointed out in my previous post on EOS, EOSBTC.
- Now EOSBTC is trying to make another inverse head & shoulder or you could also say/argue a possible cup & handle.
When EOSBTC manages to break the 20.000 satoshis level (upper yellow line), then the above EW count still holds and we should see more upward momentum.
And if we take a 1:1 extension or the depth of the big head (yellow), then it fits nicely with our target for wave 5.
- But if we fall from here then our first line of support should be around the 17.350 satoshis level.
If that breaks then a likely and key support area to watch is around the 16.500 satoshis, which is the 1.272 fib extension level and also touches the blue trendline.
So these are currently the patterns and levels to look for and to trade with if you want to swing EOSBTC.
Leave a comment if you have any questions.
Like the post, if you liked it and share it if you loved it. This is for good karma.
And until next time, good luck with your trading!
Disclaimer
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
Analyses
- EOSBTC has recently made a very nice move up from a "textbook" inverse head & shoulder pattern (purple) as pointed out in my previous post on EOS, EOSBTC.
- Now EOSBTC is trying to make another inverse head & shoulder or you could also say/argue a possible cup & handle.
When EOSBTC manages to break the 20.000 satoshis level (upper yellow line), then the above EW count still holds and we should see more upward momentum.
And if we take a 1:1 extension or the depth of the big head (yellow), then it fits nicely with our target for wave 5.
- But if we fall from here then our first line of support should be around the 17.350 satoshis level.
If that breaks then a likely and key support area to watch is around the 16.500 satoshis, which is the 1.272 fib extension level and also touches the blue trendline.
So these are currently the patterns and levels to look for and to trade with if you want to swing EOSBTC.
Leave a comment if you have any questions.
Like the post, if you liked it and share it if you loved it. This is for good karma.
And until next time, good luck with your trading!
Disclaimer
This information is not a recommendation to buy or sell. It is to be used for educational purposes only.
