EOS/BTC broke out and had a nice rally. Topped out on Binance at 2365, slightly below our initial target.
Situation right now, EOS/BTC still looks bullish and it looks like this is just the start of the new uptrend. I expect EOS/BTC to continue this uptrend however in the short term could see a re-test of lower levels. We see a bearish divergence on the 1h.
For EOS/BTC to remain bullish we need to hold 1370 – 1420 Sats.
NOTE: A wick below doesn’t count. Alt-coins are very volatile and therefor harder to validate. We want a decisive break below in order to invalidate this trading idea.
What can you do ?
– Take profits to enter at lower levels is possible (not recommended)
– Take profits in BTC (recommended if you used a large chunk of your portfolio to secure at least some profits)
– Keep positioned and look at the bigger timeframe (recommended)
NOTE: This trade is up more than a 100%, sometimes you could take out 50% so you have your BTC investment back and can ride the rest up along the way.
