EW ANALYSIS: EOS Is Confirming Bullish Reversal
Gregor Horvat | Feb 13, 2019 12:04PM ET
Hello Crypto traders! Today we will talk about EOS!
EOS/USD made an impulsive five-wave rally in December of 2018, which in EW theory suggests a bullish reversal at least in three waves A/1 - B/2 - C/3. So, first wave A/1 was in five waves and in the last couple of weeks we have seen slow, sideways and complex w-x-y double zig-zag corrective pattern into a wave B/2, which seems to be finished after that sharp and impulsive bounce in the last couple of days away from ideal support at previous wave »i« swing high and 61,8% Fibonacci retracement back to 3.0 area!
That said, we believe that EOS can be now bullish confirmed and could easily continue higher within a new five-wave bullish cycle for a wave C/3, so any decline should be only a temporary correction within uptrend!
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