Hello traders! Today let's talk about ETC .
Important points
Approaching a descending daily trendline printed from the high formed 4 months ago.
Support zone ( Yellow line ) is strong , not even a daily candle has been able to break that.
Yesterday ETC closed the day with a bullish engulfing ( candlestick bullish pattern )
Would start to buy it , with a just a little bit of the capital , not a big size , then if should occur a breakout followed from good volume would increase the position , for the moment as i said would buy but with a little size.
Let's wait for this week maybe something could happen.
Have a nice weekend traders and take care of your capital.
This is just my analysis and not a financial advice
Important points
Approaching a descending daily trendline printed from the high formed 4 months ago.
Support zone ( Yellow line ) is strong , not even a daily candle has been able to break that.
Yesterday ETC closed the day with a bullish engulfing ( candlestick bullish pattern )
Would start to buy it , with a just a little bit of the capital , not a big size , then if should occur a breakout followed from good volume would increase the position , for the moment as i said would buy but with a little size.
Let's wait for this week maybe something could happen.
Have a nice weekend traders and take care of your capital.
This is just my analysis and not a financial advice
Comment:
As you can see, support has been broke in weekly too . Really a strong downside move , btc moved in the same way so affected all the coins. Next stop might be a weekly support zone around 0.00170000 , we will see in the next days.
Comment:
Such a strong bullish candle with high volumes today for ETC
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Remember that this candle isn't close yet , wait for the day before to open some position , be patient not greedy.
Comment:
Continuation triangle?
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Broke downside the triangle and now is moving inside a rectangle , in my opinion will break downside and will continue to fall until 0.00212500 zone , with EMA 200 that could act as support.
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Ready for a 2nd impulse. Next target zone 0.00260000 , around previous highs.
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Wow. Touched perfectly the resistance and now it's falling? Well , we will see in the next days , meanwhile is going to close a daily bearish engulfing.
Comment:
Broke consolidation zone in 1h and moved upside to break daily resistance. Would buy that , in my opinion is ready to go for the 2nd wave , next target 0.00380000 - 0.00400000 zone.
Broke consolidation zone in 1h and moved upside to break daily resistance. Would buy that , in my opinion is ready to go for the 2nd wave , next target 0.00380000 - 0.00400000 zone.
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