Cryptocurrencies Strategy Trends

EOS seems about to confirm reversal

Following the “party” initiated first by LITECOIN and then by BINANCE, EOS is presenting the perfect set up for confirming the reversal.

On the daily chart:

EOS has completed 4 out of the 5 waves up after touching the ground on early December.

The 3rd wave has fitted perfectly the 1.618 FIBONACCI level as expected and the 4th corrective wave has been concluded in a short A-B-C correction.

In order to confirm the REVERSAL, one of the 3 requisites has been met as well since EOS is moving above the 50 Days Moving Average which has been crossed on early February.   The second requisite is going to be accomplished soon by breaking the 200 Days Moving Average.

The final and decisive requisite will follow next. The crossing of both 50 and 200 DMA, planed nowadays to happen by the 2nd of April, maybe coinciding with the end of the 5th wave in blue.

The 5th wave used to be similar in length to the first wave, at least in the traditional stock markets but when working with cryptocurrencies an extended 5th wave is also very common. We have then two scenarios:

Moderate Scenario:

Zoom-in the 4 hours chart and according with the data we have right now, the 5th wave can be decomposed in 5 waves of lesser degree. 1st and 2nd waves completed, 3rd being built.

Projected target assuming a moderate scenario: 5USD

“Extended” Scenario:

Projected target assuming Extended scenario: 5.6 USD

The completion of this 5th wave will confirm the three REVERSAL requisites and the completion of the 1st wave of the BULL Market for EOS…

The projection for the rest of the year launches a target price of 12 USD right now:

Enjoy!

@toofasteddie

*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.

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1 comment

Another Joe
Bring it! Then gimme triple digits!!
1 month ago