Chart analysis is an attempt to predict the future through past patterns, So I look the past events carefully. In this time I found an interesting point on the EOS/BTC chart.
EOS price is still going down to following the down trend line that drawn as a red dotted. It's to hard to predict the price as elliott pattern analysis, because it is ambiguous to define when a pattern begins and ends.
I found a interesting point in the March 9 price action. A very large volume appeared in a short time, but the price change was very small compared to this volume change. This is very clearly distinguished from the appearance before and after the volume appears. But most importantly, this pattern has been found in the past in EOS!
On October 10, 2017, we can see that the above mentioned phenomenon appeared. As on March 9th, there were a lot of volumes on a short time, and the price change was not great enough.
Now we need to pay attention is how the prices was changed after this phenomenon have occurred. We can observe the price trend has changed after a few days later from this phenomenon(there were some amount of price drop after that point but is not huge).
Based on the above observations, I have anticipated future price changes of EOS. The EOS will drop to about 0.00057 BTC for several days, and then change to a uptrend. This uptrend will be huge and strong, and the target price can be about 0.00223BTC.
* Personal opinion
I believe that the volume phenomenon observed in the above article is the shifting of giant capital. This 'Shifting' is done for some purpose, and usually causing a sharp change in price. I think the 'Shifting' that occured in recent time, will change the price of EOS dramatically, and the change will be positive.
EOS price is still going down to following the down trend line that drawn as a red dotted. It's to hard to predict the price as elliott pattern analysis, because it is ambiguous to define when a pattern begins and ends.
I found a interesting point in the March 9 price action. A very large volume appeared in a short time, but the price change was very small compared to this volume change. This is very clearly distinguished from the appearance before and after the volume appears. But most importantly, this pattern has been found in the past in EOS!
On October 10, 2017, we can see that the above mentioned phenomenon appeared. As on March 9th, there were a lot of volumes on a short time, and the price change was not great enough.
Now we need to pay attention is how the prices was changed after this phenomenon have occurred. We can observe the price trend has changed after a few days later from this phenomenon(there were some amount of price drop after that point but is not huge).
Based on the above observations, I have anticipated future price changes of EOS. The EOS will drop to about 0.00057 BTC for several days, and then change to a uptrend. This uptrend will be huge and strong, and the target price can be about 0.00223BTC.
* Personal opinion
I believe that the volume phenomenon observed in the above article is the shifting of giant capital. This 'Shifting' is done for some purpose, and usually causing a sharp change in price. I think the 'Shifting' that occured in recent time, will change the price of EOS dramatically, and the change will be positive.
For more detailed chart data, visit my steemit.