So just writing a quick update about EOS and what's going on with it.
My last EOS update was about 16 days ago before it went berserk.
Sitting at around $17.6 right now, it just seems to be wedging since the end of the 5th wave.
If we make ABCDE type of correction here then expect this to go up and start with a new impulse wave up but, this depends a lot on what bitcoin does.
With the next week's bitcoin consensus conference expect the market to go up after that.
Until then we can have sideways action and continue to wedge with EOS.
It's hard to count the corrective waves in here!
The strategy I'll use to play this one will be after a break out on either side I'll get into a position and see till what levels it'll go.
My bias is bullish on EOS, but it's better to be careful than turning out to be a fool.
Slightly Long Term Prediction
This might look like a crazy chart but this is what I was thinking of EOS.
Since we have all the 5 waves in here, I was expecting a retracement. Trust me this is very unlikely to happen.
Five waves as how I see them
Unlikely retracement target of $8.3-$9.0
If we do hit a target close to it then expect the beginning of new impulse waves up.
Now these target that I have below came from the fact that we have already completed our five waves and are retracing but, If we have not completed our five waves yet then this it's useless to consider this chart.
Yes! The fifth wave of the next cycle will end at around $68
Even if this chart is correct or not, EOS is still a great project worth holding for long term.
anyways, This was just some of my crazy charting that I thought would be worth sharing.
It's not as crazy when you think that EOS was at $4 on March 18th and it reached $23 by April 29th.
@VARUNPAHERWAR
