As you can see from the charts
EOSBTC
begin to downtrend since January obeying the channel
5 Waves counting is coming to an end as confirmed by the RSI
If you examine closely, every impulse downward created a lower low in the RSI
However the 3rd wave, usually the strongest, created an extreme low point
This makes wave 5 extremely difficult to create an even lower low!
so inevitably a bullish divergence has appeared, telling us that wave 5 is losing power and is coming to an end soon.
this also obeys the fibonacci guide as wave 5 is approaching 100% of wave 1
What now?....
Notice the major fibonacci retracement zone that i've drawn and how the
EOSBTC
is testing the 50% line?
i think it'll break through to complete the wave 5 and enters into ABC correction
Now of course if the price goes straight through then the bearish downtrend will continue...
But I think this is unlikely.
FUNDAMENTALS
EOS is built and maintained by an incredible team with amazing records of creating successful cryptos.
FYI, Co-founder of steemit and bitshares is also the co-founder of EOS.
Their Ico is ending june and will be going live!
Furthermore, lots of Vc has been announced and HUGE capital are flowing in
What do you think the price will be like in 2018? .......
EOSBTC
begin to downtrend since January obeying the channel 5 Waves counting is coming to an end as confirmed by the RSI
If you examine closely, every impulse downward created a lower low in the RSI
However the 3rd wave, usually the strongest, created an extreme low point
This makes wave 5 extremely difficult to create an even lower low!
so inevitably a bullish divergence has appeared, telling us that wave 5 is losing power and is coming to an end soon.
this also obeys the fibonacci guide as wave 5 is approaching 100% of wave 1
What now?....
Notice the major fibonacci retracement zone that i've drawn and how the
EOSBTC
is testing the 50% line? i think it'll break through to complete the wave 5 and enters into ABC correction
Now of course if the price goes straight through then the bearish downtrend will continue...
But I think this is unlikely.
FUNDAMENTALS
EOS is built and maintained by an incredible team with amazing records of creating successful cryptos.
FYI, Co-founder of steemit and bitshares is also the co-founder of EOS.
Their Ico is ending june and will be going live!
Furthermore, lots of Vc has been announced and HUGE capital are flowing in
What do you think the price will be like in 2018? .......