Bitcoin is continuing to show some life. It’s held on to yesterday’s gains, currently trading around $3,525 on Coinbase. Daily volume has slightly increased, but remains fairly lackluster overall.

EOS is looking rather bullish. It’s broken above the $2.45 resistance, currently trading around $2.65. Daily volume is around $1.3 billion, which is a very welcome increase. That said, we know EOS remains tied to Bitcoin…at least for now.

In today’s video analysis I discuss where prices may be heading next, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

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

Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing. 

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Discussions

    1. Workin2005 Post author

      Honestly, I believe it could be a lot of factors. We haven’t yet see a major short squeeze since price dropped below $6K. Longs have dropped off the board, while shorts remain fairly stable. This has been incentivizing market makers to continue to drive price up. My fear is this MIGHT be a dead cat bounce. If so, I think things could turn ugly quick. That said, we’re seeing a major spike in BUY volume. There hasn’t been this much buy volume since May. So while I suspect a temporary short squeeze and/or dead cat bounce, if volume continues to climb (and that’s a big “if”), it could spark an actual recovery. I’m a spectator at this point. Small scalp trades, but nothing major until there’s more clarity.

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  1. CryptosDecrypted

    Excellent TA on a rare green day on day @workin2005. Bring on the volume. Still sidelined – increased my EOS holding at $1.70 (felt bad) and feel there’s going to be a lot of profit taking on EOS…fingers crossed to be wrong! Rate later.

    (1)
      1. Adil Elias

        Haha I never thought I’d say this, but I’m also crossing fingers you’re wrong @cryptosdecrypted 😛

        Btw, thanks for the technical analysis Working! I try to stay away from the price charts sometimes, but I can’t stay away from your blog.

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  2. Zeus69

    Hey workin another great TA, thanks bud, I really enjoy your analysis, very professional my friend, Im quite interested on ETH atm, when you get the time I would love to see a TA on ETH if possible. I managed to but for the long term @ $81
    Regards, and thanks, will be back to rate.
    Mark (Zeus69)

    (1)
    1. Workin2005 Post author

      Thanks my friend. ETH breaking back above the $100 mark is not insignificant. I’m with family over the next couple days, but will try to post analysis if I can break away. 😉

      (1)

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