EOS: weekly market analysis (from 27 January to 2 February 2020 on BTC / EOS pair)
At this moment the sentiment regarding the alt is back very high, all the main currencies seem to have found a new bullish push following more or less important retracements, none of which however led to a new minimum.
In short, the situation has returned to being very interesting and many analysts are increasingly insisting on the altseason.
Having said that, let's immediately take a look at the graphs and try to understand what to expect from the next seven days
BTC / EOS the bulls control the market
The new weekly candle opened on January 29 above the R3 and, after a first retracement, continued to push upwards; the price is now steadily above the EMA20 and everything seems to suggest that we are in a decidedly bullish scenario.
We get the same perception by observing the 1D graph while moving to a lower level on the 4H graph we see how the bulls in the last two weeks have continued to assault the resistance, which they are doing right now as I write.
The price level at 46206 satoshi will not be able to withstand all this pressure for long and seems destined to give way at any moment (it is now the fifth time that the bulls have attempted the assault on this price range); in short, if you did not understand, EOS at this time appears fiercely bullish.
For those who have not yet entered the market, the advice is to place a conditional order around 46500 satoshi; I am moderately convinced that, at the break of that price range, the prices will explode giving great profits to those who have invested in EOS.
The next target is around 53300 satoshi and there will certainly be a case of taking a little profit because in that price range we can certainly expect a retracement.
Anyone who bought at the break of 36477 satoshi, the level reported as crucial in our first article on EOS in 2020, at that point will have placed just under 50% of profit, not bad for a trade that lasted just a few weeks.
Please note: this post is not intended to provide in any way financial advice relating to how to invest your money but it is purely educational.
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