EOS - EOS/BTC could potentially have another leg down.
Looks like we could tag the .618 of this entire bullish move which seems to have been 5 waves up (could also be considered an ABC bounce).
The .618 also lines up perfectly with the .786 of the waves 2-4 fib extension.
The extension of .786 also lines up perfectly with the 2.414 fib extension of the A-B move of this entire ABC.
My impression is that we have another full set of waves down. (5 waves) and after that, we can reassess to see if this is has potential to become bullish again or continue its decline to a lower low.
This also goes well with my LTC/BTC update which looks VERY similar! Make sure to check it out HERE:
Hopefully this helps!
-CryptoSuf
The .618 also lines up perfectly with the .786 of the waves 2-4 fib extension.
The extension of .786 also lines up perfectly with the 2.414 fib extension of the A-B move of this entire ABC.
My impression is that we have another full set of waves down. (5 waves) and after that, we can reassess to see if this is has potential to become bullish again or continue its decline to a lower low.
This also goes well with my LTC/BTC update which looks VERY similar! Make sure to check it out HERE:
Hopefully this helps!
-CryptoSuf
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