If you look at my old ETC idea linked below you see I marked this red zone on my chart during the very first week of ETC trading because I considered it the effective starting point of the rally (and thus the ETC market as a whole because it was born to fly).
I made the mistake of buying weekly contracts (with only 3 days remaining) between the (lower) red and yellow zones a couple of a days ago, so I had to terminate those with some loss. But spot buying should be relatively safe anywhere in the red zone (with stop-loss at place slightly below it) and waiting for it to touch but not to penetrate the lower boundary should yield in an even better risk/reward (but with a bigger "risk of missing out", of course).
(Although, it can always just keep goind down. Nobody is a true oracle and the ETC market is very young.)
I made the mistake of buying weekly contracts (with only 3 days remaining) between the (lower) red and yellow zones a couple of a days ago, so I had to terminate those with some loss. But spot buying should be relatively safe anywhere in the red zone (with stop-loss at place slightly below it) and waiting for it to touch but not to penetrate the lower boundary should yield in an even better risk/reward (but with a bigger "risk of missing out", of course).
(Although, it can always just keep goind down. Nobody is a true oracle and the ETC market is very young.)
Comment:
It licked some whitespace (but stopped at some other interesting level -> see the arrows below) and the bounce could be a little more convincing but it's still plausible it might breaks up and starts to fly again.
