welcome back it's the 29th of uh it's, not the 29th of october 2020, thursday. The fourth day of the week we are at number 13. eos with the ticker e o s it's in the game, so for eos against btc. We have been falling down a particular wage. I don't see any end in this fall for eos. It is very oversold, remember what i always say: you buy things when they are oversold, you sell them when they are overbought. So now eos is moving into oversold territory. Against btc, so it feels to me like eventually we will break the wage. The only question is: when are we going to break the wedge right? We have lined up very perfectly right. If you understand i'm saying yeah, let me just show you: the resistance line has been tested, one twice twice for lies, fives and size. Okay, let me just get it right. Today, we're gon na learn uh once the twice. Is it? Ah? Okay? Okay, oh no! This is not the answer. Lexico lexico says nothing. Ah, okay, so apparently, according to oxford lexico powered by oxford says what comes after once twice and thrice nothing. These three are the only words of their type and no further terms in a series have ever existed, except on this channel, so it's once twice tries flies, fives, size and sevis, okay, anyway um, so the resistance line obviously has been tested. Uh many many many many times if we counted correctly it's seven times the resistance has been tested seven times seven times and eventually it is going to break for eos against uh btc.
Eventually, this is a um, a constriction that has come since the april 2018 right. It has been how many days 900 days since we have been in the falling wage, so things have not been looking well for eos for some time so that's. Why? The true gauge of a particular coin is by looking at the btc that's, where you get a true picture of the coin's strength right so for eos, it's very weak, so you you'll be better off in btc rather than in eos. Yes, so this is a very um clear picture that um you should actually be in bitcoin, not in us. However, however, i feel eventually, we will cross the skinny pink plane as long as you're under the skinny skinny pink line. It means that you are in a bear trend right. We need to break it uh. When are we going to break it? I don't know. Are we oversold? Yes, we are. Is it time to go in, you can go in now. If you want to um. Yes, we are already oversold: okay, let's just go back in history right if we were over so over here. What happened after that boom? Again, we were so over here. What happened after that oversold again, what happened boom? How many percent was this let's just check? How many percent was this 350 yo? How about this 128 yo um again, we were oversold over here right again, where we were oversold it's, a very small me that came in 40 percent, not too shabby uh again, oversold was over so uh.
We started rising here. Let'S just assume it's here, 70 again oversold here. How much do you rise? 11? Oh, my god, again, oversold. Are we gon na see a small rise? Are we gon na drive, i mean? Are we gon na fall lower before we rise higher? I don't know yeah, but the best time the writings is when they are oversold and you sell them when they are overbought right. We overbought here problem you saw at the top. We were overbought here problem you have sold here right. Uh here to here is like yeah about 100 right, um, oversold versus oh. We were overbought here right uh, so it would have been detrimental to go in here actually yeah, because we didn't really move into overbought we just slightly but yeah. I would have been very dangerous right. So again we were oversold here: okay, we drop lower. There was a spike that came in uh and but eventually we dropped even lower so again, it's very dangerous. I don't do this just to be clear. I am a classical chart pattern trader and normally i will look for bullishness coming in right. Uh. If you look, if you go back in history here, i was here for the birth of eos. When eos came onto bfinx, i was here uh. There were many coins in 2017 that got listed on big phoenix. There was another coin called omg at the point. I thought that this was a joke coin omg, so i didn't really pay mesh pay much attention to it, but eventually it flew.
So anyway we did. We did take good trades on it, though that was way back in 2017., anyway, um yeah. So you just look at this uh for u.s against bitcoin. When we drop look at how far we drop you'd be like okay let's go in here. neniu, we drop even further how about here, no here, no hey, there's a bounce here, let's get in here. neniu, we drop it one further, but eventually we rose back up right. There was a super spike that came in from the very bottom here to the very top yeah. It was a three thousand, almost a three thousand percent rise for uh us that is 30 x. If you only put one thousand at the bottom, you will give, and if you really made a perfect trade from the bottom to the top, you will be out thirteen thousand thirty thousand dollars with just one thousand. That will be what i would call a perfect trade, but nobody does that right. Nobody catches the bottom and sells at the top. It just doesn't freaking happen, it's, like catching the lottery it just doesn't freaking happen that's just, and that is just not how uh being a successful trader means trying to catch a lottery sites like trying to chase rainbows. It is just not feasible right if you want to be successful, you have to do things very consistently, and this is not something that you can do consistently anyway, yeah.
Eventually, it will rise back up. Should we go in now nope, i wouldn't be going in. Yes, we are oversold, yes, you buy things only when you are oversold, but uh will there be a spike coming in. We are not entirely sure we would love it. If we could get some sort of a reversal chart pattern, we don't see any clear reversals yet so you know i guess we're going to be patient and we're going to wait for the eos whales to do to do their thing. But it feels to me like uh, we are closing in on the uh resistance line right. We are spending more time on the upper half let's. Just if we could break this uh into two yeah. We are spending more time on the upper half of the falling channel falling wedge, so it feels to me like eventually we should be blasting off by right by right. We have been flirting with the skinny pink client. I think. Eventually we will rise back up. Eos is another project which i like, but it is not doing well right now why i have no idea why but technically it's just not doing well right there. There are many other projects that i like, which are not they're, not really doing well technically, but i think eventually it will it's just that. Nothing is happening right now, so be very careful about going to a trade too soon let's move on to eos against usd, but before that, please give this video a like.
If you enjoyed it subscribe to the channel – and let me know what you think about ios in the comments below so for eos against usd Music okay, i have a strange feeling: uh we are going to get something else, uh from what we are expecting: okay, uh. What i mean by that is i'm: just gon na delete this all right, i'm gon na clear this right. I don't think we are going back to one dollar. I i heavily doubt that we're gon na go back to one dollar. Yes, this looks like a head and shoulders kind of a chart. Pattern right. We might drop lower right, but but i feel like eos could start forming some sort of a squeeze over here. I'M, not so sure how this is going to look like, but we might get a five way squeeze structure over here right and after that by the year 2021, maybe april 2021 pum, we could blast off right. I don't know about the uh length of the the fall being that far we will fall, but probably not that far right so i'm just going to adjust a little bit here. So we might drop a little bit um and after that we might see some sort of a reversal coming for uh us against usd thing is we are not entirely sure whether if that's the case, we are anticipating more downside for eos u.s still feels weak at This point of time: uh, there is just not much volatility coming in for eos there's.
Not there has not been any volatility for us for some time. Eventually, i think volatility will return. It'S, just there's, just nothing happening right now. So you know, like i said, be very, very careful about going to a trade too soon we still are not entirely sure uh what's happening for eos. I think this entire thing is going to become a very gigantic. Uh kind of a bullish chart pattern right. I'M. Not so sure, exactly what this is going to look like, but um, i think it is going to be a positive, uh kind of a chat pattern right uh. How positive i don't know but um yeah again, i don't see anything yet so you know your eos is a no go for me at this point of time. Yes, fundamentally, i, like us, it's, cheap, it's, fast and yeah. I, like us, it's just that there's just nothing happening uh technically, at this point of time, so we're just gon na be patient and we're gon na wait for the eos wheels to do their thing all right. I guess that's it from my eos technical analysis. Thank you very much for watching. I hope you enjoyed it.