jammyjimbo

Ethereum Classic (ETC) 1 day chart: Bear divergence

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BITTREX:ETCBTC   Ethereum Classic / Bitcoin
$ETC has outperformed other alts through the recent bear market, following its own path. Its time to catch up in my opinion and the bearish divergences on the RSI and CMF encourage this feeling.
The orange fibs are from Dec 17 low to early 18 highs - the blue is all time low to high (on Bittrex) - both seem to be getting respect and the shorter term 0.78 is very close to the longer 0.88.
This may normally signal strong support immediately below but its been fully breached twice in the last 3 months although recovered . I am watching the trendline drawn on 2-day.
OBV shows lots of holders which could give fuel to panic selling, but also limit supply. Target areas illustrated - its a basic plan. No shorts just buy areas.
Comment: Please note as pointed out in the comments below this is hidden bull divergence, especially as the uptrend does just remain intact. My mistake. Keep eyes on trendline.
Comment: 1st target hit and perhaps the 0.88 is ambitious given the market is picking up - but if weakness returns...

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Higher Low + Lower Indicator is Hidden Bullish Divergence, not bearish. I recommend you to look it up.
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jammyjimbo m.yektaersoy
@m.yektaersoy, You are right, thank you for pointing out my error.
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