Booyah!
EOS is on fire - up 152% over the past two weeks. Block.one announced they will be reinvesting one billion dollars of ICO proceeds in Dapp developers and expect 1000 Dapps to launch simultaneously with the chain next year - wouldn't surprise me with that kind of money being thrown around either!
Block.one was under no obligation to contribute anything to the project (beyond developing the chain itself), so this is great news. Block.one means business. The only thing better than seeing this thing succeed and making a mozza is going to be watching all the nay-sayers and FUD spewers eat their hats or pretend they never said shit.
Let's take a look at the chart:
Wednesday saw a massive rally to two month highs on record volume. Pair consolidated on Thursday, but managed to close a little higher, before setting a new two month high again on Friday. Pair is likely a little over extended and momentum has dropped off, though the bulls don't seem quite ready to give up just yet either.
Let's drill down for a closer look:
As you can see, sellers have had a quite a few opportunities to push the pair lower, but have chickened out each and every time. Pair could still correct lower, though I think as long as $1.15 holds, risk is tilted firmly to the upside. If $1.15 goes, a correction towards the top of the breakout zone at 90c is likely.
That's me for the day folks, will update on Bitcoin tomorrow. In case anyone's wondering, I closed my maniac short position for 100 points last Friday. Thank fuck I did too, because if I'd held that over the weekend, I probably would of wound up in debt to my broker on Monday morning.
On that note, I'd just like to remind all my followers that though I am quite open about my positioning, my Steem posts are in no way intended as investment advice or a signal service - like most traders I get about half my trades WRONG and sometimes I might not post for a week and then just post some stupid photo of a fruit salad. Please do your own research, only trade with money you can afford to lose and if you don't know what you're doing, don't even think about shorting bloody bitcoin!
Team Aus footer by the amazing @bearone
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