ETC-BTC (4h chart 0.1 update) - H&S spotted
Just a quick update on the ETC.
As you can see in addition to the yesterdays published TA (Check related ideas) on ETC where bounce did indeed happen inside the red pennant also H&S have been formed which need to be taken into consideration for price prediction. After a first bounce from the neckline at point C, trade-range is becoming smaller which could indicate that a change in the market will be happening soon.
Bullish sentiment
Indicators:
CCI is starting to get turn upwards...once it crosses the middle line breakout will be verified.
RSI: I am hoping to get the bounce from RSI support line.
Aroon: A cross of orange line upwards inside zone 30-70 would mean verification of bullish trend. (not on picture)
MACD zero lag: touched where gap indicated possible trend reversal
If the neckline and the 50% fib level can hold the support for est. next 4 hours I believe momentum will shift to bulls where their muscles will be tested already at the 38.20, breaking the downtrend line lastly 23.60 fib levels. After successful close above 38.20% and downtrend line with optimal volume could mean that NASA can start the countdown for rocket launch. Be aware also for the current high resistance at 0.00413812.
Possible sell zones:
1.Blue Zone (95% confident) = psychological level 0.005 to 0.0055 where the areas of the zone are marked with historical possible resistances/support red line. It is also the distance of the previous bull run (Marked with the blue text bubble)
2. blue zone (85% confident) = Fib level of 78.60 on a pull back could represent significant resistance to be broken also psychological level price 0.008. it is also the the zones where multiple price spikes have happened after ETC reached ATH. Nevertheless it represent also the copied bull run distance of Wave 3 before ATH was reached.
2. Green Zone (80%) = distance from today's support copying the length of wave 5 ending with the ATH price at 0.00952000.
HEAVY PSYCHOLOGICAL RESISTANCE AT 0.01.
3. Yellow zone (50% confidence) = Could be due to the fib level on the pull back and the time available to block number where the fork happens.
4. Red zone starting at 0.0145000 (25% Green flag)- If we reach all time high high and we project the distance between two high points of wave 3 & 5 on top of it, we get to the 161.80% Fibonacci level which is again optimal target in Crypto world especially in the LONG-TERM or strong FOMO.
Bearish sentiment
If the bearish sentiment will be dominant and our big friend BTC will have its own party we could still see the correction wave (c) to extend down to 61.80%
arround 0.003 (historically significant for ETC if we compare to previous pull backs on Fibonacci levels). Taking H&S rules into consideration in worst case we could see the pull back down to 127.20% (0.00180540) level which is similar to the distance measured from the Head down to the neckline. It has to be also noted that for this drop to happen a major macro news needs to shake up the crypto world.
share your opinnion, comments, etc. If you would like to know more or be part of our community feel free to send me a PM.
best regards
Animus The Great and may the mission beyond the moon be successful.
As you can see in addition to the yesterdays published TA (Check related ideas) on ETC where bounce did indeed happen inside the red pennant also H&S have been formed which need to be taken into consideration for price prediction. After a first bounce from the neckline at point C, trade-range is becoming smaller which could indicate that a change in the market will be happening soon.
Bullish sentiment
Indicators:
CCI is starting to get turn upwards...once it crosses the middle line breakout will be verified.
RSI: I am hoping to get the bounce from RSI support line.
Aroon: A cross of orange line upwards inside zone 30-70 would mean verification of bullish trend. (not on picture)
MACD zero lag: touched where gap indicated possible trend reversal
If the neckline and the 50% fib level can hold the support for est. next 4 hours I believe momentum will shift to bulls where their muscles will be tested already at the 38.20, breaking the downtrend line lastly 23.60 fib levels. After successful close above 38.20% and downtrend line with optimal volume could mean that NASA can start the countdown for rocket launch. Be aware also for the current high resistance at 0.00413812.
Possible sell zones:
1.Blue Zone (95% confident) = psychological level 0.005 to 0.0055 where the areas of the zone are marked with historical possible resistances/support red line. It is also the distance of the previous bull run (Marked with the blue text bubble)
2. blue zone (85% confident) = Fib level of 78.60 on a pull back could represent significant resistance to be broken also psychological level price 0.008. it is also the the zones where multiple price spikes have happened after ETC reached ATH. Nevertheless it represent also the copied bull run distance of Wave 3 before ATH was reached.
2. Green Zone (80%) = distance from today's support copying the length of wave 5 ending with the ATH price at 0.00952000.
HEAVY PSYCHOLOGICAL RESISTANCE AT 0.01.
3. Yellow zone (50% confidence) = Could be due to the fib level on the pull back and the time available to block number where the fork happens.
4. Red zone starting at 0.0145000 (25% Green flag)- If we reach all time high high and we project the distance between two high points of wave 3 & 5 on top of it, we get to the 161.80% Fibonacci level which is again optimal target in Crypto world especially in the LONG-TERM or strong FOMO.
Bearish sentiment
If the bearish sentiment will be dominant and our big friend BTC will have its own party we could still see the correction wave (c) to extend down to 61.80%
arround 0.003 (historically significant for ETC if we compare to previous pull backs on Fibonacci levels). Taking H&S rules into consideration in worst case we could see the pull back down to 127.20% (0.00180540) level which is similar to the distance measured from the Head down to the neckline. It has to be also noted that for this drop to happen a major macro news needs to shake up the crypto world.
share your opinnion, comments, etc. If you would like to know more or be part of our community feel free to send me a PM.
best regards
Animus The Great and may the mission beyond the moon be successful.
Comment:
Hoping for 61.80 bounce
Comment:
Bounce done like expected in 50-61 fib zon...now at the downtred with overbought conditions. small correction and than up we go
Comment:
So 78.60% being tests and the bottom of the uptrend
