Overview:
Long setup for a bullish EOS/BTC EW Count
Target for 5th not yet strongly established (awaiting more price action), updates will follow.
Entry:
131000-138000 sats range was an ideal entry but scaling in on the next pullback still has potential of 50%+ on a conservative double top target
Bitcoin being in a bearish trend has potentially decreased expected bull momentum for alts, and thus may get you a better entry again.
Algorithms target alignment:
Stop loss:
Below support box (130000) is the most likely place for a stop loss.
However, the r/r is amazing, which allows you to take a more passive SL.
Move SL up as bullish momentum continues.
Risk/Reward:
Setup has R/R of more than 6.
Long setup for a bullish EOS/BTC EW Count
Target for 5th not yet strongly established (awaiting more price action), updates will follow.
Entry:
131000-138000 sats range was an ideal entry but scaling in on the next pullback still has potential of 50%+ on a conservative double top target
Bitcoin being in a bearish trend has potentially decreased expected bull momentum for alts, and thus may get you a better entry again.
Algorithms target alignment:
- Algos buying at the support will be selling off at the 200000-220000 range (take partial profits here)
- 100% target length of wave 1 on the higher degree count is common.
This also gives us the double top range. Scale more profits.
- As more price data comes, updates will follow in this thread.
Stop loss:
Below support box (130000) is the most likely place for a stop loss.
However, the r/r is amazing, which allows you to take a more passive SL.
Move SL up as bullish momentum continues.
Risk/Reward:
Setup has R/R of more than 6.