Okay, so EOS has been in a triangle since awhile, like Litecoin and a few others - the triangle has been tested - you can see several resistance lines (green, orange) which will soon converge with the blue upper border of the triangle... that's nice.
I think there will be another slight dip or two below the $9 line, before it starts to climb.
An ideal opportunity to get in - just my opinion.
The only reason it didn't shoot before was the sudden magnetic Bitcoin boom these last two days, so that some more volume is now needed - but that can come rushing in any moment, the likelihood increasing with every passing minute. @haejin sees EOS at $20 and above within the next days, and he has an accuracy rate of 97%...
→ Binance, Bitfinex, Hitbtc, Kraken and some minor exchanges
@jojof great insight, especially the effect of BTC surge delaying altcoin growth and thus altering short term chart analysis.
Also I think you're right that trading money is going to be returning to altcoins. Yesterday it was BTC, today LTC and ETH, tomorrow hopefully it'll be back in our little coins...
Or maybe it flows back into BTC, maybe higher cap altcoins, or maybe Dogecoin will go to $25,000.
Well, EOS would have exploded already if it wasn't just five people owning any - just look at the low volume compared to a month ago.
Let's face it, people here are either in Bitcoin, Steeem, BTS or something else... but only ONE thing else, and these are the favorites.
By chance I remembered and looked at ICN today (Iconomi) and it has gone straight up by 100% but not even @haejin has so far noticed it even exists. Just an example, wasted.
So, there's just the five people trying to push EOS upwards, and that takes time.
We're right now trying to break the $11 resistance, it's a sure thing - and I guess we'll be done around Easter if we keep going at this pace ;))
That's just the resistance lines - if you look at Bitcoin, it's just the same - testing $17000 at the moment, up-down, up-down, up-down, to eventually break through.
I think people are too confused right now, buy this, it's gonna shoot, buy that, it will be orgasmic - they have spread everything they have too thinly, hoping that everything will go up.
So it will, but definitely not as fast as one would like.
If you look at the EOS/ETH ratio, you have to coinsider that ETH has caught people's attention as an alternative to Bitcoin - this will stop at about $1000 and there will be a longer consolidation phase, like when it was stuck at $300 for awhile. These tings are exactly what people like haejin cannot foresee as they refuse to look at anything but waves, this is what makes the time factor.
When ETH stalls, the people who know about EOS will push it some more, but then, their number is limited - this is the problem with small coins. You see a similar relation with Lumens and Bitcoin.
On one hand, they depend on the big one to be well, on the other, they shoot when the big one stumbles. Thus, the prolonged triangles that haejin is now calling fractals. EOS is now out of one, the question is simply when it will gain enough momentum.
If you look at the ETH ratio mostly, that will automatically change when Ethereum starts to slow, which will attract more ETH holders... as EOS is an ETH derivative, holding both at the same time may be wise, but not make a lot of sense ;)
You're offering some excellent counterpoints here to contrast the pure TA that @haejin offers,
And, technically, these calls are intended to help educate folks on how to read charts themselves. But, in reality, for a lot of folks we're looking for leads because this market is potentially a goldmine but very few of us here have ever done this.Many many people are fresh off the train without a map, some money in our pocket, hoping we find honest advice and don't get ripped off.
The goldrush analogy is pretty accurate.
And you might be right that there just isn't enough money in the market atm to move all these smaller coins simultaneously. I suspect that will be changing as more people figure out how to get onto coinbase, transfer funds onto an exchange, etc.
It might be a few months before things really heat up from new retail investment.
We'll have to see. Keep us posted on your own predictions.
Okay, so EOS has been in a triangle since awhile, like Litecoin and a few others - the triangle has been tested - you can see several resistance lines (green, orange) which will soon converge with the blue upper border of the triangle... that's nice.
I think there will be another slight dip or two below the $9 line, before it starts to climb.
An ideal opportunity to get in - just my opinion.
The only reason it didn't shoot before was the sudden magnetic Bitcoin boom these last two days, so that some more volume is now needed - but that can come rushing in any moment, the likelihood increasing with every passing minute.
@haejin sees EOS at $20 and above within the next days, and he has an accuracy rate of 97%...
→ Binance, Bitfinex, Hitbtc, Kraken and some minor exchanges
@jojof great insight, especially the effect of BTC surge delaying altcoin growth and thus altering short term chart analysis.
Also I think you're right that trading money is going to be returning to altcoins. Yesterday it was BTC, today LTC and ETH, tomorrow hopefully it'll be back in our little coins...
Or maybe it flows back into BTC, maybe higher cap altcoins, or maybe Dogecoin will go to $25,000.
Well, EOS would have exploded already if it wasn't just five people owning any - just look at the low volume compared to a month ago.
Let's face it, people here are either in Bitcoin, Steeem, BTS or something else... but only ONE thing else, and these are the favorites.
By chance I remembered and looked at ICN today (Iconomi) and it has gone straight up by 100% but not even @haejin has so far noticed it even exists. Just an example, wasted.
So, there's just the five people trying to push EOS upwards, and that takes time.
We're right now trying to break the $11 resistance, it's a sure thing - and I guess we'll be done around Easter if we keep going at this pace ;))
Possible c&h?
Isn't everything ?
It's still dumping every time it gains, sadly. When is EOS going to wake up? Let's go...
That's just the resistance lines - if you look at Bitcoin, it's just the same - testing $17000 at the moment, up-down, up-down, up-down, to eventually break through.
I think people are too confused right now, buy this, it's gonna shoot, buy that, it will be orgasmic - they have spread everything they have too thinly, hoping that everything will go up.
So it will, but definitely not as fast as one would like.
Yeah. but EOS is throwing away 30% gains repeatedly. It's like 19 days in a row of downtrend now on the EOS/ETH ratio..
If you look at the EOS/ETH ratio, you have to coinsider that ETH has caught people's attention as an alternative to Bitcoin - this will stop at about $1000 and there will be a longer consolidation phase, like when it was stuck at $300 for awhile. These tings are exactly what people like haejin cannot foresee as they refuse to look at anything but waves, this is what makes the time factor.
When ETH stalls, the people who know about EOS will push it some more, but then, their number is limited - this is the problem with small coins. You see a similar relation with Lumens and Bitcoin.
On one hand, they depend on the big one to be well, on the other, they shoot when the big one stumbles. Thus, the prolonged triangles that haejin is now calling fractals. EOS is now out of one, the question is simply when it will gain enough momentum.
If you look at the ETH ratio mostly, that will automatically change when Ethereum starts to slow, which will attract more ETH holders... as EOS is an ETH derivative, holding both at the same time may be wise, but not make a lot of sense ;)
You're offering some excellent counterpoints here to contrast the pure TA that @haejin offers,
And, technically, these calls are intended to help educate folks on how to read charts themselves. But, in reality, for a lot of folks we're looking for leads because this market is potentially a goldmine but very few of us here have ever done this.Many many people are fresh off the train without a map, some money in our pocket, hoping we find honest advice and don't get ripped off.
The goldrush analogy is pretty accurate.
And you might be right that there just isn't enough money in the market atm to move all these smaller coins simultaneously. I suspect that will be changing as more people figure out how to get onto coinbase, transfer funds onto an exchange, etc.
It might be a few months before things really heat up from new retail investment.
We'll have to see. Keep us posted on your own predictions.
Only one place to go now...UP!
DRGN/BTC
Slumbering Dragon
I thought the same thing with bts yesterday but then BTC happened and eveything went down lol.
Exactly
Now that's a nice looking chart. Looks very similar to one haejin recently showed for another crypto XDN.
I've been Haejing my bets for about two months, now. He is one hell of a coach.
I really enjoy the charts that you post @solisrex. You are a fine pupil.