EOS (EOS) Market Update for Nov 20, 2018
Nov 21, 2018 --- Altcoins
Like it or not, EOSBTC appears to be the strongest altcoin in our current coverage universe as price continues to tread water along the previously broken uptrend line which sparked an SCMR CR UP confirmation that just printed a few minutes ago despite the still mixed candle formations and the still bearish moving averages that have yet to shift in any meaningly way. Also note that the momentum oscillators are still stagnating in no man's land while the Ichimoku Cloud remains bearish out in front of the market, but yet price continues to hang in quite well especially in light of what is occurring in other crypto markets this week. While we are not expecting a sustainable reversal off of these levels at this time, we do think a bounce up to the psychologically significant 0.00xxx level is possible once a legitimate countertrend move materializes in the BTCUSD markets.
We will consider a LONG position on a selloff down to the 0.000xxx - 0.000xxx area with a stop just below 0.000xxx and a target of 0.000xxx.
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