EOS Analysis 3/28/19 | Bears trying to regain control

29 Mar 2019

EOS continues to fight an impending retracement. Because we keep consolidating at this range after an impulse move, this can almost be classified as a bull flag or a potential bull pennant if you look on lower timeframes. I personally like to swing trade, so I’m basing movements off the 4HR charts but lower timeframes like the 15m –which is significant in crypto—tell a different story. Be that as it may, my position remains, but I may close out earlier than $4.05. I am now looking to take profit at $4.20 and then take more profit at $4.10 with the likelihood of re-longing at $4.00. There is still a possibility we move up from here and if that’s the case, I am just going to short at $4.80 even though that may take some time.