EOS near a 1D bottom

24 May 2018

EOSUSD remains on a strong 1D Channel Down (RSI = 38.678) but on a controlled pace (Highs/Lows = -1.1713, B/BP = -4.3550, MACD = -0.337). This slowdown on MACD is an indication of the support levels ahead: 10.1000, 9.3064, 7.4356. Assuming this is a recurring pattern similar to mid-January/ mid-February, I expect a smoother (red) Channel Down to emerge (on a lower gradient) that will work as the platform for the next Channel Up. My short TP spots are: 0.0815, 7.4356. By June 14 we will start buying.