I’m in an unusual place with EOS. I’ve already accumulated my preferred position. In addition, I have a sizeable EOS day trading position to work with. Ordinarily, I’d move on. However, the set-up with EOS is, in fact, out of the ordinary. The twin drivers of day trading profitability – volume and volatility have made a return. Married to the liquidity of EOS – ideal trading conditions. You can find my recent post on market volume and volatility here.
Over and above these daily opportunities there’s a clear trend in EOS-BTC valuations – it’s onwards and upwards.
However, in the near-term there’s even more reason to be optimistic. June 1st.
June1st Block.one is set to unveil the fruits of its almost year long labour. Many hints have been dropped that its going to be ‘big’.
Now, we’ve all seen projects pump on expected announcements’ only to dump just prior or immediately after. This may well transpire with EOS too.
However, critically Block.one is not any crypto dev team – it’s one of the heavy hitters – the hype and buzz around June is already building and the odds favor a continuation of that hype and expectation.
The probability is that EOS is set to run and run over the next 6 weeks. Who knows after the announcement’ we may see a massive drop (as is typical) but for now, the outlook is as good as it gets in crypto.
Good numbers – but this is not the end but the mid-point of the likely EOS run:
EOS is a buy on a dip.
Local entry point 0.0106 BTC (moving up if price action dictates)
Stop loss -15% (approx) below entry (to account for current market volatility) 0.0088
Sell 1 week prior to announcement – expected profit near May 2018 BTC highs (0.0019 BTC).
Looking to buy back-in on being stopped out.
Bear market may diminish price surge (obvious possibility)
Block.one’s promised marketing may not occur or be effective (low probability)