Hi guys,
with BTC all go down. If BTC holds hovering above 4100 USD this could be the very bottom according to price movement measured with a trading volume. There is only one volume indicator on my 3H chart due to restrictions of the platform but I used more and all give the same information - with every other fall in price the volume is falling down too. Also on 1 H chart Easy of Movement signals that EOS is being accumulated. MACD supports the rest of the indicators. That means we could be getting to an end of the sell off, bottoming.
BUT
Momentum is still downwards on 3H chart and there are no buyers right now. This could easily change as there are going to be a few technical conferences and the TEST NET will be launched on September 14+/-. Also the latest sharp decline in price - a climax - is often a sign of a reversing trend. Wait for the confirmation signal - a strong green candle.
This could be a great chance to load up your bags and wait till the end of September. The mood on the market could easily be a very different compare to the last weeks for EOS.
As for China news involved - not a very reasonable believe to sell. EOS don't even have a page in Chinese. Definitely oriented to different markets plus there was a flood of fast and cheap Chinese ICOs lately. Your feedback is greatly appreciated.
Good luck and peace, HODLERS. Patience is the key!
Disclaimer:
Due to its extremely high volatility Trading Cryptocurrency is very challenging. Potentially it can be a profitable opportunity for investors. However, before deciding to participate in the cryptocurrency market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly invest only money you can afford to lose.
with BTC all go down. If BTC holds hovering above 4100 USD this could be the very bottom according to price movement measured with a trading volume. There is only one volume indicator on my 3H chart due to restrictions of the platform but I used more and all give the same information - with every other fall in price the volume is falling down too. Also on 1 H chart Easy of Movement signals that EOS is being accumulated. MACD supports the rest of the indicators. That means we could be getting to an end of the sell off, bottoming.
BUT
Momentum is still downwards on 3H chart and there are no buyers right now. This could easily change as there are going to be a few technical conferences and the TEST NET will be launched on September 14+/-. Also the latest sharp decline in price - a climax - is often a sign of a reversing trend. Wait for the confirmation signal - a strong green candle.
This could be a great chance to load up your bags and wait till the end of September. The mood on the market could easily be a very different compare to the last weeks for EOS.
As for China news involved - not a very reasonable believe to sell. EOS don't even have a page in Chinese. Definitely oriented to different markets plus there was a flood of fast and cheap Chinese ICOs lately. Your feedback is greatly appreciated.
Good luck and peace, HODLERS. Patience is the key!
Disclaimer:
Due to its extremely high volatility Trading Cryptocurrency is very challenging. Potentially it can be a profitable opportunity for investors. However, before deciding to participate in the cryptocurrency market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly invest only money you can afford to lose.