Eidoo (EDOBTC) is printing a very strong bullish candle on the daily time frame and is becoming very promising when looking at it longer-term... Let's start with the daily.
Chart:
Here we can see how EDOBTC started to move up steadily to finally reach a climax and produce today's breakout.
Volume going higher.
The RSI is very strong at 63.
Looking at the weekly time frame, the main chart above, we can look at primarily two scenarios:
When you have this type of bullish action, we know that a strong bullish wave will come next and we get the following pictures.
1) Straight up and more up... This is done by most of the cryptocurrency markets when in bull run mode.
2) Retrace and then straight up.
Whichever scenario happens, or a different one, trading can remain very simple and low risk if you have patience and can wait.
Just buy and wait until your targets are hit.
Use a stop-loss in case you get a different scenario (purple arrow), this way you are prepared for all outcomes and always know which action to take.