H4 - Price has broken the trend line inside the channel, we have hidden bearish divergence.
Based on the fibo extension levels, we have three levels that coincide on the same zone making it a strong critical level.
Hence we may expect the price to move lower until the price reaches this critical level.
Invalidation: Basically as long as the price holds below the uptrend we can look for sells. If the price moves higher and holds above this uptrend line then this setup is invalidated.
Looks like you've nailed this one Vlad... Nice analysis. Do you think it will hit your $7 target? I cashed out all my EOS holdings yesterday just hours before it started tanking hard... Thinking of buying back in at $7... what do you think?