EOS/USD 1W. Basic trend. Potentials and manipulations.
Here's the EOS/USD 1W Chart on Bitfinex(long history).
Right now we can see the horizontal channel forming. In this channel harmonic pattern on daily TF formed and worked out the first target, which is the middle of this local horizontal accumulation channel, in terms of 1w TF.
Now we're near the support of this channel 0.86$. Recently the big amount of EOS were deposited on the exchanges.
Showed the classical potential manipulation - look.
On the bottom we have the support zone. Also it's 0/61(16)$ zone which often acts as bottom.
This 0.61$ zone is -25% from the current support which is basic percent for pulling out stop losses.
Though, if the market gives an "opportunity" it can dump further. The global support is 0.5$. This is also a possibility.
And if on the moment it's very scary - the price can drop up to 0.36, which is also -25% but from the main support 0.5$. It will be 0.36$ zone.
Still, the potential is very good. Shown the potential distribution(local distribution) zone on chart.
Those are - 2.5$; 5$ and then maybe 15$ but probably not in this local cycle.
You can potentially work martingale in this type of situation, which means buy more if price drops.
Right now we can see the horizontal channel forming. In this channel harmonic pattern on daily TF formed and worked out the first target, which is the middle of this local horizontal accumulation channel, in terms of 1w TF.
Now we're near the support of this channel 0.86$. Recently the big amount of EOS were deposited on the exchanges.
Showed the classical potential manipulation - look.
On the bottom we have the support zone. Also it's 0/61(16)$ zone which often acts as bottom.
This 0.61$ zone is -25% from the current support which is basic percent for pulling out stop losses.
Though, if the market gives an "opportunity" it can dump further. The global support is 0.5$. This is also a possibility.
And if on the moment it's very scary - the price can drop up to 0.36, which is also -25% but from the main support 0.5$. It will be 0.36$ zone.
Still, the potential is very good. Shown the potential distribution(local distribution) zone on chart.
Those are - 2.5$; 5$ and then maybe 15$ but probably not in this local cycle.
You can potentially work martingale in this type of situation, which means buy more if price drops.
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