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Daily TF analysis of EOSUSD

EOS.IO (trading as EOSUSD) is currently the 9th biggest cryptocurrency based on market cap as of today (10th of February, 2018). It is a decentralized blockchain technology and EOSUSD represents the price of EOS in US dollars. EOS made a high of $18.67 on Jan. 13,2018, afterwhich it began to sell off. EOS is currently completing a W-X-Y structure with the wave Y not yet complete.

EOSBTC Feb. 9 2018

POI marked on the chart = Point of invalidation.

EOSUSD completed an Elliott wave cycle (i.e. wave A labelled in red). This implies that any correction for now is too early for an uptrend to resume.

If EOSUSD holds the above scenario, EOSUSD should sell off and move well below $5.79

(price low made on the 6th of Feb. 2018) before any bull move can be sustained.

Black arrows on the chart are only to indicate the trajectory for price and are not price projections.

For further details on the chart, please feel free to contact me.

Disclaimer: This is for information purposes only. My opinions are my own. This should NOT be taken as a buy or sell recommendation

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