A quick look at EOS, which has been enormously bullish this last month, especially due to all the issues circling ETH lately [IMO].
While it's certainly fair to be nervous entering into a trade on a coin that's blown up over 300% the last month or two, the fib retracement of .382 happening not only on wave 2 but wave 4 as well gives me enormous hope for EOS.
I believe that because of this double-bull retracement [as long as we can maintain this bounce] We will very likely see an extended 5th wave, which could squeeze out an extra 30-50% on gains.
Lets all remember that EOS fanboy or not, EOS is going to without a doubt be one of the top 5 cryptocurrencies of 2018.
I personally believe that if the EOS main net is a success, it will overtake ETH, as the issues with ERC20 tokens, the politics around the scam ICO's/"garbage coins" and issues with the actual programming [sharding or not] have taken rise.
I'm extremely bullish on EOS and any other token that is coming out with a main-net, such as Golem and TRX. [even though I kinda hate TRX :P]
Take this as you will and have an incredible rest of the week my cryptofamm! <3
Hey thanks for the TA. I've been looking around alot lately for some guidance as I still have a pencil in my eye for not buying EOS when I thought "hmmm $8, I'll wait till it drops some more, then I'll dump my quarters into it"........ I hope your right about having a little more steam left. I am curious if you think the main net switch could "fail" and what would that look like? Until then, I'm hoping I dont lose my other eye if my buy-in at $16 recks, cause it would be hard to play catch with my son with two pencils sticking out of my face.
dansharp
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@SteveGRNCA Thanks so much for your comment! <3 If the EOS MainNet Fails and they have to push it back in their roadmap [Which I don't think it will because apparently the testnet went fine -- it was awhile ago]
We will have a truncated 5th wave most likely with an extended A-B-C or double elliot wave correction. They did have some issues with the release of their Dawn 3.0 and had pullbacks for that, but the damage wasn't extensive to the asset value in my opinion. I don't see EOS heading back to $16 anytime soon however.
I'll try to update this idea in the next day or so when I can find the time and I'll tag you in it or DM you so you can take a look at a more bearish outlook for EOS.
Until then, always remember to use proper R/R [risk to reward], set up stop losses always! Always practice risk management my friend!
--- Best of luck trading and go have fun with your kid, money comes and goes, kids aren't kids forever!
SteveGRNCA
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@dansharp, Thanks for the reply. I was able to buy back in at $12 to drop my overall (small) investment. Please do update me on the bearish outlook. I am hoping that after June it goes up.