Cryptocurrencies rose yesterday, but looking at the bigger picture, they are still trading too slow for wave »iii« and mostly sideways. So, we think that another drop still can be around the corner before any bullish continuation.
The very important chart that can be showing a potential drop in the Crypto market is EOS. We can clearly see only a three-wave a-b-c rise, but the most important is that wave b was a triangle, so upside should be limited, because triangles cannot occur in wave ii. That being said, we believe that EOS made only a three-wave corrective rally in wave (b), from where we may see another fall back to around 61,8% Fibonacci retracement and 3.0 support area for wave (c) and this is where a big correction may come to an end and where the real bulls may show up.
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