I last posted about EOS one week ago,
I talked about a particular pattern I look for when price enters a demand or supply zone (and if I don't see this pattern, I may not take the trade).
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.
As anticipated, price pulled back and give buyers an opportunity to go long at $10.75 (green rectangle).
If price is going to move much higher, price must take out the $14.25 first. Price closed above $14.25 on a daily chart, but is pulling back now.
Which may give traders an opportunity to go long again if price gets back to the $11.80 level.
No change to the targets: 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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11.8 is a huge demand zone. There are some people in US exchanges saying EOS will be the biggest coin in 2018 because several whales are accumulating it.
I read a post (can't remember who it was) which said 10 EOS accounts own 48% of the tokens. That I coin I don't want to be a part of....if one whale sells, it will cause havoc on the price of EOS.
Good post! I upvoted and followed you; follow back and we can help each other succeed
Left a comment my post Thanks!