24.10.2019 - EOS (EOS / USD)
Hi Traders!
Today we look at EOS / USD. The last hours have been marked by declines on Bitcoin and the entire market. The decrease also affected EOS. But what can we expect in the future? Again, we have a basic bullish and bearish scenario.
Bullish scenario
In this case, the entire correction would have been completed. The graph clearly shows the finished 5 waves down. However, this prediction has one small problem. In the crypto market, it is customary for wave 3 to be extended. In that case, we would only be at the end of wave 3 and a new bottom would follow. In simplicity, however, we can say that the 5 waves downward are completed and could start a new cycle. How do we find out? We must wait for the graph to react. Especially for the key zone.
Bearish scenario
We have already drawn this up. In this case, wave 3 would be extended. If we are witnessing extreme situations on the market (which is quite common with crypto), it is more difficult to estimate the potential bottom. It is from this perspective that we always consider the worst case scenario, and that is the new bottom.
However, the last wick that remains shows a strong rejection, so we can expect growth in the coming hours. But can we break strong resistance? It will determine whether it will be a bullish or bearish scenario.
May the crypto be with you!
Today we look at EOS / USD. The last hours have been marked by declines on Bitcoin and the entire market. The decrease also affected EOS. But what can we expect in the future? Again, we have a basic bullish and bearish scenario.
Bullish scenario
In this case, the entire correction would have been completed. The graph clearly shows the finished 5 waves down. However, this prediction has one small problem. In the crypto market, it is customary for wave 3 to be extended. In that case, we would only be at the end of wave 3 and a new bottom would follow. In simplicity, however, we can say that the 5 waves downward are completed and could start a new cycle. How do we find out? We must wait for the graph to react. Especially for the key zone.
Bearish scenario
We have already drawn this up. In this case, wave 3 would be extended. If we are witnessing extreme situations on the market (which is quite common with crypto), it is more difficult to estimate the potential bottom. It is from this perspective that we always consider the worst case scenario, and that is the new bottom.
However, the last wick that remains shows a strong rejection, so we can expect growth in the coming hours. But can we break strong resistance? It will determine whether it will be a bullish or bearish scenario.
May the crypto be with you!
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