EOSUSD-A CLOSER LOOK IN 4HR CHART & THE POSSIBLE STRATEGY
OUTLOOK: Bearish
>Price will more likely to drop especially if Bitcoin continue to fall.
>These alts in general still follows BTCUSD movement but in an accelerated rate so please be careful.
>We are in the bearish territory even in other time frames, price is moving below the lower half of the Bollinger Band.
>Heavy rejection around $7.5 - $8.
>Support around $7 as it was already been tested before, but another test around that support price may dictate the next price direction as it get squeezed once again. But I still favour the bears since it is currently the dominant trend.
>RSI & MACD looks so weak at the moment even while trying to make an upward reset.
>Stoch RSI is at the bottom and about to reset but currently RSI & MACD is against it so it may have some trouble to get back up above around 50 level.
>My bottom is around $5, and who knows if it is already the bottom, so it is always good to buy at strength around $6, during a good price bounce.
**Disclaimer;
>This is still a novice work and definitely not a financial advice.
**Comments and constructive criticism will be fully appreciated so I can improve more with my TAs. Thanks for checking my work!
>Price will more likely to drop especially if Bitcoin continue to fall.
>These alts in general still follows BTCUSD movement but in an accelerated rate so please be careful.
>We are in the bearish territory even in other time frames, price is moving below the lower half of the Bollinger Band.
>Heavy rejection around $7.5 - $8.
>Support around $7 as it was already been tested before, but another test around that support price may dictate the next price direction as it get squeezed once again. But I still favour the bears since it is currently the dominant trend.
>RSI & MACD looks so weak at the moment even while trying to make an upward reset.
>Stoch RSI is at the bottom and about to reset but currently RSI & MACD is against it so it may have some trouble to get back up above around 50 level.
>My bottom is around $5, and who knows if it is already the bottom, so it is always good to buy at strength around $6, during a good price bounce.
**Disclaimer;
>This is still a novice work and definitely not a financial advice.
**Comments and constructive criticism will be fully appreciated so I can improve more with my TAs. Thanks for checking my work!
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