Much like Bitcoin, EOS continues to get squeezed within a larger wedge. It looks like we could see a major move within the first 2 weeks of October.
Looking at the 4 hour chart, we’re seeing the Bollinger bands bottleneck. The 8, 21 and 55 day EMA’s are converging. This also suggests price is ready to move.
The 1 day RSI has established an ascending support over the last 6 weeks. It looks like it’s about to get tested again. If it holds, this would be a very bullish sign.
In today’s video analysis, I explain in a little more detail how I analyze the market. I discuss traps to avoid, my Elliot wave count, market psychology and MUCH more. Many of you have asked me to define various terms and teach a little more during my analysis. I try to do that in this video, which is why it’s a little longer. If you find it helpful, let me know. If you’d rather I shorten the video and just get to the point, let me know that as well.
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.
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
If you found this post informative, please:
Open an Account on Binance here:
https://www.binance.com/?ref=16878853
Support the Crypto Ecosystem with Brave Browser:
https://brave.com/wor485
Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005
Published on:
by Workin2005
Great video, do you use market profile as confluence or do you incorporate it into your trading strategy/set-ups?
Mostly the former. I'm only recently using it at all. There's really nothing it shows that you can't see on the chart. That said, I find keeping it on helps me maintain a good mental picture...especially when trading coins I'm not as familiar with. The truth is, it's making me a little lazy.