EOS keeps on dumping after the mainnet launch, and the FUD is real on the messageboards. However, I tend to let the chart speak for itself, and it is very bullish, although there may be some short term pain before we take off.
As noted on the chart, we have a major inflection point coming up below. That means there's confluence on several Elliott Wave degrees: the retracement levels from the all time high, the completed ABC correction, and the subwaves of the C of that correction. Sounds complicated enough, but the chart shows it more clearly - three of the arrows point to roughly the same area, and with that much support it is likely price will react there.
So, when (if) price gets to around 4 €, we'll have to watch the reaction. We'll probably see a bounce, and the conservative trader may wait for a confirmation with fives waves up followed by three down. I, however, will be layering in for a long term hold.
To be precise, I will be adding to my long term portfolio at 4.1, and if it goes deeper, I'll add at the other major Fibonacci levels, i.e. 3.65 and 1.58. Remember, the all time low was as little as 38 cents, so it has room to drop still.
And, if EOS collapses and goes to zero, my family and I will still eat.
