![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)

### In my last video update, I discussed how the market was starting to show structure. We saw the beginnings of a very healthy looking bounce, which led to the rise we’ve seen over the last couple days. There were 2 major hurdles I wanted to see EOS over come. First, it had to breakout of the descending channel it had been in for the last couple months. We saw that happen yesterday. 
![Screen Shot 2018-07-17 at 3.48.59 PM.png](https://cdn.steemitimages.com/DQmWdyxd8TzxVE9ko8HKg9Y5duHzvz5u7MhmzNeMPny1ypC/Screen%20Shot%202018-07-17%20at%203.48.59%20PM.png)
### The second hurdle was breaking out of the descending resistance line on the 1 day RSI. This has now also happened. 
![Screen Shot 2018-07-17 at 3.45.39 PM.png](https://cdn.steemitimages.com/DQmQxkpJYFgXSKroE2s6jVE8xUbc34anVYoZcK7AK4Nigty/Screen%20Shot%202018-07-17%20at%203.45.39%20PM.png)
### Price recently went has high as $9.00, before starting to consolidate in the supply zone between $8.60-$9.00. I believe EOS is currency on wave 5, looking for a top.It looks as though another push up to around $9.30 is possible before an ABC correction. Doesn’t mean that will happen, but it’s a possibility. Either way, a small correction is likely coming soon. It may play out like this:
![Screen Shot 2018-07-17 at 3.42.15 PM.png](https://cdn.steemitimages.com/DQmP8YAPo6NsBa7R76iT2DfyP3F3KZmjBeXfuRbwh5Qhjzm/Screen%20Shot%202018-07-17%20at%203.42.15%20PM.png)
### Looking at the 4 hour RSI, we can see it’s rather over bought. This again suggests a correction is in the near future. 
![Screen Shot 2018-07-17 at 3.46.02 PM.png](https://cdn.steemitimages.com/DQmcAhMFPJwFgfNHVjunxBB4GLG2DXtPhF9yXvCza4wjvA1/Screen%20Shot%202018-07-17%20at%203.46.02%20PM.png)
### Looking at the 1 day chart, we can see price has risen above the 21 day EMA. This is a sign the market is continuing to strengthen. 
![Screen Shot 2018-07-17 at 4.10.33 PM.png](https://cdn.steemitimages.com/DQmPLgW8tMA5AoF2ezc5pJcFv3nAaxj3qcRo22qPpgM1iBz/Screen%20Shot%202018-07-17%20at%204.10.33%20PM.png)
### Watch my video analysis for MUCH more detail not found above. 
#### *Please note: I misspoke in the video at around 8 min and 25 seconds when I said "oversold". I should have said "overbought".*
## Video Analysis:
https://youtu.be/K1HYfvk1mAg

**BIAS:**
**Short Term: Slightly Bullish**
**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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