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Technical Analysis on EOS: Wave 2 Target hit. What to Expect Next... by workin2005

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· @workin2005 · (edited)
$7.28
Technical Analysis on EOS: Wave 2 Target hit. What to Expect Next...
![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 EOS update I said we could expect wave 2 to bounce inside the golden pocket (0.618-0.65 fib level). I told you I was going to enter a quick scalp trade at $7.60 with a conservative target of $7.95. Here’s my chart from then:
![Screen Shot 2018-07-24 at 9.33.40 AM.png](https://cdn.steemitimages.com/DQmU4UTbBbgQvJdqmEkLqcKYPCftU7EyzxuC45EVSVgsHtp/Screen%20Shot%202018-07-24%20at%209.33.40%20AM.png)
### Since then, my wave 2 target was hit, as was my conservative $7.95 target. If you got in on this trade, congratulations. If not, there will be plenty of opportunity ahead (Watch my video at the bottom for more detail).
![Screen Shot 2018-07-24 at 9.38.14 AM.png](https://cdn.steemitimages.com/DQmYeFANhWLzmG3ipZMhLGgxTrP4Vvf12Jb7pXZ7j4r5npD/Screen%20Shot%202018-07-24%20at%209.38.14%20AM.png)
### Looking at the 4 hour chart, we can see the 8, 21 and 55 day EMA’s are converging on each other, as is the 50 and 200 day MA. This often happens when a larger breakout is preparing to take place in the near future.
![Screen Shot 2018-07-24 at 9.28.16 AM.png](https://cdn.steemitimages.com/DQmTp98fvqhaNB52KF2TYq5gq2GGHUMeTXVwRiVcEd53Mup/Screen%20Shot%202018-07-24%20at%209.28.16%20AM.png)
### My bullish count over the next 2 weeks targets wave 3 at the 1.618 fib ($12.09). Volume will have to increase for this to play out. Here’s how it might look:
![Screen Shot 2018-07-24 at 9.29.54 AM.png](https://cdn.steemitimages.com/DQmcxKDJVcNHuiPSn5KGksBz2efjybE4BGLYzhqfM8ZDffb/Screen%20Shot%202018-07-24%20at%209.29.54%20AM.png)
### EOS has a great deal of resistance to break through if the above count is to become a reality. In the short term, it must break above the prior high of $9.45. Should that happen, I think it'll quickly rise to the $10.30-$10.90 supply zone. Below are the big picture key resistance and support areas. 
![Screen Shot 2018-07-24 at 9.32.26 AM.png](https://cdn.steemitimages.com/DQmTCM6aZdEA3GH6XE4fb8HLGvDmDnwbEivezGhcBm3XN5k/Screen%20Shot%202018-07-24%20at%209.32.26%20AM.png)

### Watch my video analysis for MUCH more detail not found above. If you’re not watching my videos, you’re only getting half the story. 
### *If you’re viewing this on a site other than Steemit, and you don’t see the below video, navigate to Steemit in order to watch.*
## Video Analysis:
https://youtu.be/dXYmha9oHK0

**BIAS:**
**Short Term: 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*

## **If you found this post informative, please:**
![upvote.gif](https://steemitimages.com/DQmRhDtjokAZnGKi4QwheqksKTFo6m4fsjMYsNNrsitC1xk/upvote.gif)

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vote details (76)
@eaglet ·
What a great video, love your work.   Just hold every token you buy right now with Larimer talking about staking rewards of annually -+ 10% plus airdrops.  It's a wealth builder investment.
👍  
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@workin2005 ·
Thanks @eaglet. I couldn't agree more about staking.
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@wales ·
I sold all my eos and bought tron; soon as tron hits a dollar I'm rich
👍  
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@workin2005 ·
I wish you all the best @wales. I'm kind of neutral on TRON, but I certainly hope it works out.
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