Much like Bitcoin, EOS continues to get squeezed within a larger wedge. It looks like we could see a major move within the first 2 weeks of October.
Looking at the 4 hour chart, we’re seeing the Bollinger bands bottleneck. The 8, 21 and 55 day EMA’s are converging. This also suggests price is ready to move.
The 1 day RSI has established an ascending support over the last 6 weeks. It looks like it’s about to get tested again. If it holds, this would be a very bullish sign.
In today’s video analysis, I explain in a little more detail how I analyze the market. I discuss traps to avoid, my Elliot wave count, market psychology and MUCH more. Many of you have asked me to define various terms and teach a little more during my analysis. I try to do that in this video, which is why it’s a little longer. If you find it helpful, let me know. If you’d rather I shorten the video and just get to the point, let me know that as well.
I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!
Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing.