Interesting price action on EOS against the US Dollar past few days. Pair appears to have carved a higher low on the 9th, engulfing out of support yesterday and taking out the falling trend-line which capped the last rally:
We now have the makings of a Double Bottom reversal pattern, with confirmation on a break above the September 29 high at 84.5 cents.
I've opened a 1:1 long position, with liquidation at 34.8 cents. I'll likely exit the position well before then if technical picture deteriorates, but pretty confident for at least a minor bounce from these levels. There's 25% between here and the September 29 high, so wouldn't be a bad little move after leverage is factored in.
I'll be adding to this position on a break above yesterday's highs. Maintain this coin is ridiculously undervalued.
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