EOS Technical Analysis: IS A BREKAOUT LOOMING?

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·@workin2005·
0.000 HBD
EOS Technical Analysis: IS A BREKAOUT LOOMING?
![Analysis_Logo Resize.png](https://cdn.steemitimages.com/DQmPGS4NFos8KZvW7KRjkYs21czufu92Vr9qooFwGNJm5vc/Analysis_Logo%20Resize.png)
### EOS is operating within a small wedge and looking prime for a breakout. Price has been hovering right below a major descending resistance. If it breaks above, I believe a quick rise to $7.00 is likely. 
![Screen Shot 2018-09-04 at 5.34.18 PM.png](https://cdn.steemitimages.com/DQmWJAPoMbVkrGu5tkkgTKRzs6sr5T2x1L633UhpapTazGV/Screen%20Shot%202018-09-04%20at%205.34.18%20PM.png)
### Looking at the 4 hour RSI, we can see it’s created a small falling wedge. This is a bullish pattern and usually breaks up.
![Screen Shot 2018-09-04 at 5.35.46 PM.png](https://cdn.steemitimages.com/DQmY1iKCc4kRBJvv2vUXQ415RUBdeCjp8oppMuau6HVSbnY/Screen%20Shot%202018-09-04%20at%205.35.46%20PM.png)
### The 4 hour chart reveals the Bollinger bands narrowing (bottlenecking). This suggests a possible larger move is coming. The 50 day MA crossed above the 200 day MA about 48 hours ago. This is a bullish sign of strength. 
![Screen Shot 2018-09-04 at 5.39.35 PM.png](https://cdn.steemitimages.com/DQmZ75UFRKY5dM3GoibqzRLzPTEdRpeR8iRR2thENfAXFZW/Screen%20Shot%202018-09-04%20at%205.39.35%20PM.png)
### In today’s video analysis, I discuss trade entry points, price movement over the next few days, my Elliot wave count and MUCH more information not found above. I hope you find it helpful.
## Video Analysis:
https://youtu.be/GoGp6FtwRr8
#### *If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.*
### BIAS:
**Short Term: Slightly Bullish**
**Longterm: Bullish**

**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*
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