![Screen Shot 2018-06-15 at 6.20.45 PM.png](https://cdn.steemitimages.com/DQmbr6sL1CCknNr63LcQhWD4G9CE1R6p5iKrebioH73BGUj/Screen%20Shot%202018-06-15%20at%206.20.45%20PM.png)
### Yesterday I discussed two possible bullish scenarios. The first had price dropping to the June low of $6.55 for a double bottom. That has not played out...at least not yet. The second scenario was price dropping to the current microstructure low of $6.82, creating a double bottom and quickly reversing course. The is the scenario that ended up happening, however, I’m not sure it’s sustainable. 
![Screen Shot 2018-08-03 at 5.22.44 PM.png](https://cdn.steemitimages.com/DQmanomCBopPJ94mQ26NvqZ9HY8fLHfMV9n6joV7oop59Jg/Screen%20Shot%202018-08-03%20at%205.22.44%20PM.png)
### Zooming into the 1 hour chart, we can see 5 clear waves up. Price is now correcting in what appears to be an ABC pattern. If EOS is to remain bullish, probability tells us to expect a bounce between the 0.382 fib ($7.09) and the 0.618 fib ($6.99). 
![Screen Shot 2018-08-03 at 5.30.10 PM.png](https://cdn.steemitimages.com/DQmbPG4pRveeAYttb4iRr2JEvNYybCPbcQTF54W2QhRfMtp/Screen%20Shot%202018-08-03%20at%205.30.10%20PM.png)
### If price breaks below $6.99, I’d expect a retest of the recent $6.82 low. If that breaks down, price will likely drop to the June low of $6.55. From there, bulls will be hoping for a double bottom scenario. 
### Looking at the 1 day RSI, we can see it’s still operating within the wedge I pointed out days ago.
![Screen Shot 2018-08-03 at 5.23.35 PM.png](https://cdn.steemitimages.com/DQmdWFE7H6SEsFV1PRSn7geYkqscTei9yXKPSWLzUUu4MLL/Screen%20Shot%202018-08-03%20at%205.23.35%20PM.png)
### In today’s video update, I discuss where price may be heading in the short term and long term. I also point out key resistance zones that must be taken out, possible trade setups and MUCH more. If you’re not watching my videos, you’re only getting a small part of the story. 
## Video Analysis:
https://youtu.be/GRnXNZQc41o
#### *If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or https://mentormarket.io/profile/@workin2005?aff_id=Workin2005 in order to watch.*
### BIAS:
**Short Term: Neutral**
**Longterm: Bullish**

**I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!**
### *Workin*
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