Potential Double Bottom on EOS - Having another crack at a long position
Interesting price action on EOS against the US Dollar past few days. Pair appears to have carved a higher low on the 9th, engulfing out of support yesterday and taking out the falling trend-line which capped the last rally:
We now have the makings of a Double Bottom reversal pattern, with confirmation on a break above the September 29 high at 84.5 cents.
I've opened a 1:1 long position, with liquidation at 34.8 cents. I'll likely exit the position well before then if technical picture deteriorates, but pretty confident for at least a minor bounce from these levels. There's 25% between here and the September 29 high, so wouldn't be a bad little move after leverage is factored in.
I'll be adding to this position on a break above yesterday's highs. Maintain this coin is ridiculously undervalued.
Team Aus footer by the amazing @bearone
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I simply LOVE the Australian Steem LOGO's colours!
Thanks for the sharing of your thought son the EOS situation, I am really surprised to see it at such a low, especially considering the quality of the product itself.
Namaste :)
Hey Eric,
Yeah that footer from @bearone is awesome!
and yep, way undervalued, EOS will be a gamechanger, but people are sleeping on it.
EOS is way too down. Just buy btc. See this post: https://steemit.com/main/@az-charts/indexes-and-commodities-spx-to-2700-hang-seng-to-30k-dax-to-13-3k-gold-possibly-to-1360-oil-to-70usd-per-barrel
Did exactly that, though not because I don't like EOS
Power up, time to buy.
I agree that today it's crazy undervalued and another proof about how irrational current market is. If you would take out the people jumping on every hype the charts would like totally different.
But ok probably these people pollute every investment type :)
Hahaha I'm pretty guilty of that myself, I bailed on this pos to go full force on the Bitcoin break
I knew it :)
@bulleth as a former Series 7 stockbroker for 27 years I like your thinking using this Candlestick Chart. STEEM On !!
Crypto's are so Exciting
@bulleth Do you think EOS could be the next one to make X100 like ETH and NEO?IS it a good idea to hold it long term?
What do you mean x100? I am looking for EOS to eventually have a market cap >= ETH's, price > $20
That means ~x20, he asked if you think it has the potential to go up current price*100
Answer, potentially :)
Thanks boss. Bitcoin will have another fork in November. I think Bitcoin will remain strong compare to altcoins including EOS untill Novemver. Hopefully, towards the end of the year, altcoins test all time high! Especially, EOS which will come out with Dawn 2.0 around that time.
Yep, Bitcoin is caning it right now and the alts are lagging hard
Thanks for sharing!
very fast graphics changes. very good friends.
Interesting patterns ! I will keep an eye on it thanks to your work
This is a good buy