At the moment EOS behavior is very uncertain... EOS had 5 wave uptrend and now is in ABC correction, curently being in wave C
On the one hand we have EOS/BTC price that is fluctuation in a bear tunnel and at the moment price is very close to lower regions of the tunnel + 4 hourly indicators such as MACD and RSI indicate that it is strongly oversold + both start curving upward from oversold region (bullish indicator), which means that short term EOS price may bounce to the upper regions of the tunnel. However from there I would expect price to bounce off the higher regions of the tunnel toward 60% fib retraction levels which would complete ABC correction. Overall from EOS/BTC standpoint short term the price is likelly to go up before further downtrend.
On the other hand we have EOS/USD, which on the grand scheme of things is also in a major correction currently forming large falling wedge, and right now is in the upper regions of the wedge, however the wedge isn't complete and nowhere near of the appex of the falling wedge + Elliot triangle isn't complete, and needs 1 more wave. This would indicate to me that short term the price would go down, unlike what EOS/BTC chart shows.
As a result of this mixed behavior between 2 charts I am not certain of short term price behavior, although mid term the price is going to continue down trending, finishing correction before new 5 wave uptrend begins. However, considering that most traders pay greater attention to EOS/BTC chart and that it has more short term positive indicators I am prone to say that first scenario is more likely to happen than second.
Always use stop losses!!
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