EOS is consolidating within a wedge. I believe a larger move is coming within the next 8 hours.
Looking at the 1 day RSI, we can see it’s also consolidating within a wedge. A break above would indicate a major win for the bulls, and possibly lead to a retesting of the all important $9.45 resistance.
Looking at the 4 hour chart, we can see the Bollinger bands are tightening as the EMA’s and MA’s are squeezing against each other. Volume is dropping. This all indicates a larger move is looming.
In todays video I discuss what a breakout might look like, as well as possible traps to look for and avoid.
Watch my video analysis for MUCH more detail not found above. If you’re not watching my videos, you’re only getting half the story.
If you’re viewing this on a site other than Steemit, and you don’t see the below video, navigate to Steemit in order to watch.
Video Analysis:
BIAS:
Short Term: Neutral
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
good analysis and nice concept sir..i like it..thanks for share..