MagicPoopCannon

Let's See What The Hype is All About — in EOS! (EOS)

BITFINEX:EOSUSD   EOS / Dollar
Hi friends! Welcome to this highly requested analysis on EOS! Let's get right to it! Looking at the four hour chart, you can see that EOS has printed a monster rally, off of the back of the move generated by Bitcoin             . This rally was so significant for EOS, that it caused the crypto to surpass Litecoin in market capitalization, bumping it into 5th place market wide. So, now that this big rally has happened, where do we go from here? The first thing that we have to consider, is the state of Bitcoin             , simply because BTC             is controlling the cryptosphere right now. However, in terms of the technical data on this chart, I see that price action is forming an obscure flag that looks like a bull flag , but it actually isn't. This is a formation that I like to refer to as a false flag. In the years that I've spent as a trader and an analyst, I have found these flag formations to break down eventually. They can be extended, and rally upward for a considerable period of time, but they almost always break to the downside. I can't really find much literature on this, but I've decided to call them false flags. An identical false flag exists in Bitcoin             , so be careful.

If you look closely, you can see that it found resistance at the bottom of the 50% retrace. Once the breakdown starts to occur, initial support may be found at the 61.8% retrace, around 7.45. That level will be converging with the 50 EMA (in orange) so that would increase the likelihood of initial support. Below there, EOS has the 200 EMA (in purple) and then the rising dashed support level .

To add to the case of an impending breakdown, the MACD is rolling over like it wants to form a hard bearish crossover. So, despite this powerful surge higher, I see some technical weakness that is developing. For educational purposes only, if you've acquired a nice gain from this rally, now would be a good time to take some profits off of the table.

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-
You are too late POOP
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Magic, can you please post an update on this? Will it go down or up?
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It pumped because of an airdrop on the 15th. Will dump after. Not saying it's not a strong project and this is jus how these go. Will either dump leading up tot he airdrop or right after.
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@onaivas, It will pump agian before December when it will have its own exchange
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onaivas thunderstrike
@thunderstrike, Yeah, with bitfinex, right? What are your thoughts on the tether conspiracy? I don't think dan would be partnering with bitfinex if bitfinex was looking to exit scam thru tether. Seems absurd to me.
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@onaivas, Tehter is scapgoat for FUD propaganda, ofcourse they are dodgy no doubt, hence bittrex is already promoting TUSD (TrueUSD). However, regardless of what tether auditing says it wont go away soon, there are heavy hands and deep pockets involved in it and it can damage the btc market, the status quo will be maintained for the duration of next/upcoming bull run, once the crash starts around sept they may exit out but time will only tell.
I am keeping my eye on all chains and protocols and platforms..this will be the year or serious challenge to ETH.
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Wow not a single mention about reason behind rally, now i am thinking the TA are becoming more like Astrology where you know "in general" what has been happening and what MAY happen..however there are "players" and "events" at play in Crypto which love to dismantle Astrology of Trading.
+3 回覆
cryptoplayhouse thunderstrike
@thunderstrike, my detail take on EOS is below, but there are deeper reasons for market moves. News has been proven to only move a market temporarily. And at times the same type of news will move a market in opposite directions.

Of course, we know that market patterns are nothing more than the representation of the collective consciousness of all market participant’s decisions. Elliott Waves and the newer NeoWaves, WolfWaves (simple), Andrews/Schiff & Gann lines and others, can help us give time and price forecast and trade with greater confidence. These tools help capture the ebb and flow of aggregate decisions-actions and reactions- that are to some extent influenced by changes in our collective energies. So what can cause mass energy shifts?

Since you mentioned astrology, consider it.

I happen to know that some of the biggest traders in the world also use astrology. How do I know that? Years ago I became friendly with one of the Market Wizards in Jack Schwager's famous book by the same name. His unusually beautiful wife was a famous astrologer turn trader. He was a psychologist turned trader turned astronomer. The entire top floor of there house overlooking the ocean was their astro-trading room. They developed trading software for themselves, then they sold it others. He and the wife split up, then he died. Sad, but nevertheless, he told me about the many top traders quietly used astro-cycles, including the biggest Eurodollar bond trader in the world.

Every physical thing in the universe is built from atoms which is by far mostly empty space between the rotating particles and energy. Since the particles that make up atoms are cyclic, they have a frequency. So from the subatomic particles to heavenly bodies, everything is vibrating and thus has a cycle. Planetary cycles and their attendant geometric alignments can at times help explain energy shifts here on earth, and therefore at times astrology - astronomy with symbolism-can help time large market moves. We are babies at understanding this. Wait for quantum computing to help figure the relationships out.


Thus, while the patterns are created by people, I believe our personal cycles are at least somewhat influenced by the cyclically nature of our celestial environment, including the energetic imprint we receive at birth. Just like our fingerprints and every snowflake is unique, so to is our individual frequencies make up. The Sun, moon and the planet help to facilitate energy build up. Then they have and cause a discharge phase. There are the small and the large cycles, just as the Sun's 400 year+ Maunder Solar Minimum cycle is discharging the Sun now. That is likely why parts of the world had such a strong winter in early 2018.

We can all feel the energy shifts at times.Many people just do not know where it is coming from. Are you aware of it?

Bear markets create darker moods and conservatism across the societies touched by them. Conversely, bull markets are happier, more liberal, and spawn the growth of risque behavior on many levels.

I just started posting 7-10 days ago. But as a former CTA and fund manager, not too many people here would likely have the experience I have to share. So feel free to check out my Elliott Waves, cycles and Andrews lines posts. My nephew Austin also puts out some very good work. He and Dan Alvarez (another partner) will be speaking at a Miami area crypto event tomorrow, Saturday, April 14th, at 12:00 p.m., somewhere in Little Haiti. If you stop by, tell them Mike M sent you.

I want to say I that appreciate the work that "Magic Cannon" puts into this page. So thanks @MagicPoopCannon!

Also, I would like to introduce CRYTOPLAYHOUSE, a page and website that my nephew and I run along with two other marketing partners to share some of our trading insights and help to positively influence the crypto space.

So here is my addition to the EOS chat. I posted it 04/05/18, forecasting the blast up, and the look and timing of how I see the likely rally unfolding. See the two other supporting posts on EOS as well.



Good trading!

Michael Mansfield
+3 回覆
thunderstrike cryptoplayhouse
@cryptoplayhouse, Michael, thank you for putting up lot of info and explanation. My take on TA opinions on TradingView is education mainly so i can understand how to config change my bots however one very imp thing is that Crypto being unregulated and heavy influencers in the play along with tech news and hack and crackdown (all sort of positive and negative fud) plays major role. There is no way any trader would have judged XEM would tank why because of hack. Same way no one would have judged that BCH would rocket 300 % when coinbase listed them.
This wild wild west of crypto no logic or past conditions or charting can predict the future.
With regards to Astrology i myself is beleiver and know basic of reading birth planet charts etc and i know every thing in universe affects another thing on atomic level but similar to TAs it also has lots of ifs and buts and some time the real masters (i knew some of them) who do not advertise themselves nor charge have predicted very precisely (personal exp) however lot of things like other's influence, karma, situations etc affect the outcome.
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cryptoplayhouse thunderstrike
@thunderstrike, there are times that I can predict the market with uncanny results, as long as there is enough data. Clean price data is the key. Yet, of course, there are times when I am out of sync with universal flow, or not as focused, or I just get it wrong for whatever the reason. And sure, there are some chaotic events in life that affect the markets, but usually, they cannot change the trend. For instance, I put out a Technometrics Special Report in April 2001, 5 months before 911, saying that the NYSE would crash once it moved out of topping wedge pattern and likely bottom in mid-October 2002 or March 2003, which happened. Yes, 911 was in there too, but it did not affect the Elliott Wave Count. It happened on the way down. Bear markets create the environment for conflict as one group always blames another. That is one reason you see trade wars happening now, and why this next crash is likely to be worse. Back in 2001, Mountain Astrologer Magazine's front cover for I think it was June of that year hand army tanks, oil wells, explosion and problems in the Middle East on the cover. They did not know exactly what would happen either. I was shocked at how accurate the symbolism of that magazine cover was. I will never forget it. I would love to hear about your friends who are astro-traders. Feel free to send a message if interested in talking about that or in general. I have to run. Thanks for your comments. Mike M
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