Ethereum Classic (ETC) Bearish Divergence, drop likely.

ETC has been on my watchlist for a while, and recently closed my position in anticipation for the sell-off after a 2.4% gain.

Trade can be found here

Due to the bearish divergence on the RSI, it is very possible ETC will drop, so this could be a good short position.

How to trade:

Buy in: On or above the white trendline

Sell Target
Around 2169 if this idea plays out like last time.

if we break above, this will be invalidated and a long position might be a good idea. I think it's going to drop, however.

Thanks for viewing! Please leave any comments in the section below. I will respond to all of them.

Comment:

This would be the idea long scenario.

Comment:

If this closes below, bearish will probably happen

Comment:

This is my ideal buy in position. If it drops below would seem like etc is more bearish.

Comment:

Added 10% of my position right here.

Comment:

50% at 2074
50% at 2065

Stop loss is market and manual.

Comment:

First sign of support here.

Trade closed: target reached:

Closed 50% at 1.35%

Trade closed: target reached:

Closed 25% at 2103

Trade closed: target reached:

Final 25% at 2125

Comment:

If i didn't ladder sells, would have been over 2%. No regrets though. Better safe than sorry.