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.

Video Analysis:

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!

Workin

Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing. 

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Responses

    1. Workin2005 Post author

      I agree…having a strong foundation is key. If we see a bull run sparked by FOMO after a short squeeze, I fear it’ll be short lived. On the other hand, if it’s sparked by game changing positive news, or even price dropping low enough to attract new money, we’ll see a sustainable, healthy run that’ll quickly take out the prior ATH.

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  1. SugarFix

    Let’s hope that major move on EOS is up. Bitcoin dominance has finally started to decrease – down 3% on that high. That means the alts have benefited. I know my long term minors have shot through the rankings in the past week. The only coin that hasn’t benefited is Ethereum. The BTC/ETH chart from May is still showing a decline in value but it is not as steep as it was. What is your fiat/eth charting like in October? Is it a squeeze like EOS? If it is it could well be popcorn time.

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    1. Workin2005 Post author

      ETH/USD isn’t as dramatic, but it’s still tightening with lower highs and higher lows. We may be getting close to popcorn time. I think the market’s preparing to make a major move this month.

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