EOS has formed bullish Cypher pattern and ready to hit $6.8| Up to 134% profit expected

By moon333 | moon333 | 26 Oct 2019

The word's 7th leading cryptocurrency EOS with US Dollar pair has completed a very powerful bullish setup. Lets have a lool.

351665157-d865eb86386be8508571297018eeef81ff614c9a6901f46b10f1bf17a1e2b45d.png

The price action of EOS / US Dollar has formed a bullish cypher pattern. After initial let the A to B leg is retraced almost 0.382 Fibonacci and B to C leg is projected upto 1.414 Fibonacci and C to D leg is retraced between 0.618 to 0.786 Fibonacci.

351665157-3638f7247c935a632c85cfcb45bbb6bb9e4e3df68e5937c5e6cce2a8e64037ba.png

https://www.tradingview.com/x/8w0Ws1XA/

The ichimoku cloud was bearish since Feb 2019 now it is turned weak and fluctuating between bullish to bearish.

351665157-61e13cd302e57d49907b699e78cead89786faa2f770fb746a7684e84d3af1ea8.png

https://www.tradingview.com/x/gst6S8dr/

MACD turned weak bearish from strong bearish and Stochastic has given bull cross from oversold.

351665157-7868114448c448059efd2c0b20aea7c4ea74be23d084726b8678cd82b25de116.png

https://www.tradingview.com/x/x60MoJED/

On day chart the price action is moving within down channel and volume profile is showing very low interest of traders below 3.1972 sats level which can lead the price action to take breakout from this channel very soon.

I have used Fibonacci calculation method to set the targets as below:

Buy between: 3.9937 to 2.9190

Sell between: 4.8710 to 6.8397

Regards,
Atif Akbar (moon333)

Disclaimer: Every word and figure of above article is purely result of my personal research and work you can share it using my reference moreover the information contained in this article is for education purpose only, this is not intended to be investment advice, so please seek a duly licensed professional for investment advice.

Resources