EOSUSD; Holding 16.00/14.00 implies 28.50
Holding 13.75 already without the 12.50 test was enough to quickly touch and surpass the 20.00 target.
Now one sees a similar pattern as has been seen before twice in january; Bearish engulfing pattern and a dark cloud cover. Both are better topping signals. Do not follow such patterns blindly however, there is a different context currently. This market has broken above 16.00 resistance and this may become a floor now. If so, it can be a setup for a rise toward 28.50.
So, watch support levels closely; mainaining closes above 16.00 is a good indication but have to consider intraday moves toward 14.00 once 16.00 gives way. In that case one should look if bulls can swiftly reject the 14.00 handle followed by a 16.00+ close. This would be a nice long setup.
Now one sees a similar pattern as has been seen before twice in january; Bearish engulfing pattern and a dark cloud cover. Both are better topping signals. Do not follow such patterns blindly however, there is a different context currently. This market has broken above 16.00 resistance and this may become a floor now. If so, it can be a setup for a rise toward 28.50.
So, watch support levels closely; mainaining closes above 16.00 is a good indication but have to consider intraday moves toward 14.00 once 16.00 gives way. In that case one should look if bulls can swiftly reject the 14.00 handle followed by a 16.00+ close. This would be a nice long setup.
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