Hello and welcome to my latest very brief look at EOS vs BTC analysis on the daily log chart.
As you can see we have just completed a massive cup and handle pattern stretching from July 2017 to current. If we can break out above the rim then we look set for a 200% increase over the coming 3 months or so!
Let me get this straight though, we have not broken out above the rim yet! And even if we do break out above the rim this is not going to be a straight shoot for the moon… We will of course zig zag our way up there offering many chances for short term trades.
Looking at the MACD/RSI we are building momentum so we have a pretty good shot of breaking out, however I would reframe from going this long until we have an actual confirmed break out with supporting volume. There is still a chance we will retrace from the current resistance we are facing; in which case we may form a smaller cup and handle pattern as shown in orange. If this occurs it still gives us a target increase of about 80%.
So feel free to follow as I post shorter term trades as we progress further.
Cheers