EOS breaks previous neckline at 8,4
Hey guys, I hope you have been following my BTC posts over the weekend also: BTC together with brother BCH broke a bear flag to the upside, and now had follow-through with clearly breaking the bull flag to the upside. => I will be talking about this in today's episode of the 'Crypto Chart Analysis', make sure to watch it! ;)
As EOS clearly follows grandpa Bitcoin, we had first broken a short Hourly bull flag at around 7,43 to the upside, followed by a beautiful prolonged bull flag: In the case of EOS, we had already build a neckline from a failed inverse H&S attempt last week around 8,4-8,5. This neckline got lowered to 8,25 in previous attempts. Once we broke above 8,25, we also surpassed the neckline today.
The reason why I played EOS vs. Bitcoin is very easy: As EOS has now surpassed 4H Lower Highs in the direct correlation to Bitcoin (EOS/BTC), we're now at 12 EMA Daily resistance. That means EOS is relatively stronger right now & will make every move of BTC to the upside just more leveraged. Basically just the other way round, when it got beaten up more than BTC on the way down.
I got myself triggered with 2 orders avg. at 8,45 (while I was buying groceries & met a friend) and took partial profit at around 6% gains. => This is how beautiful trading can be, making gains while you're sleeping or not even starring at the screen, just because you did your homework and set orders accordingly.
On the shorter time frame we have now clearly room for consolidation, up to the 4H EMAs, always depending on grandpa Bitcoin. Eventually BTC will have to form a Daily Higher Low & Lower High in order to change the trend, so a retest of the neckline around 8,4-8,5 wouldn't pose any danger to the bulls. Should we get another straight bull flag without consolidation, even better! ;)
If you had some value from my analysis, please like & subscribe, I will be doing those daily from now on! I wish you a wonderful start into the week! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
As EOS clearly follows grandpa Bitcoin, we had first broken a short Hourly bull flag at around 7,43 to the upside, followed by a beautiful prolonged bull flag: In the case of EOS, we had already build a neckline from a failed inverse H&S attempt last week around 8,4-8,5. This neckline got lowered to 8,25 in previous attempts. Once we broke above 8,25, we also surpassed the neckline today.
The reason why I played EOS vs. Bitcoin is very easy: As EOS has now surpassed 4H Lower Highs in the direct correlation to Bitcoin (EOS/BTC), we're now at 12 EMA Daily resistance. That means EOS is relatively stronger right now & will make every move of BTC to the upside just more leveraged. Basically just the other way round, when it got beaten up more than BTC on the way down.
I got myself triggered with 2 orders avg. at 8,45 (while I was buying groceries & met a friend) and took partial profit at around 6% gains. => This is how beautiful trading can be, making gains while you're sleeping or not even starring at the screen, just because you did your homework and set orders accordingly.
On the shorter time frame we have now clearly room for consolidation, up to the 4H EMAs, always depending on grandpa Bitcoin. Eventually BTC will have to form a Daily Higher Low & Lower High in order to change the trend, so a retest of the neckline around 8,4-8,5 wouldn't pose any danger to the bulls. Should we get another straight bull flag without consolidation, even better! ;)
If you had some value from my analysis, please like & subscribe, I will be doing those daily from now on! I wish you a wonderful start into the week! ;)
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
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