For the coming weeks, I expect ETC to complete its correctional wave before seeing continuation to the downside before finally entering a sideways channel, probably choppy due to the of Bitcoin and Ethereum .
When I said “cycle” regarding throughout this video, I meant to say “wave” and the main trend is called an "impulsive wave". I also forgot to go on with explaining that an "Ichimoku cloud flip" from red to green would be a signal, and the cloud has also contracted around the price range at the moment while the 200 and 50 MA have been slowly approaching for a golden cross. That's why I think over time, after the downtrend continuation plays out further, this will possibly consolidate through a time of establishing price floors. As I said, I’m quite new to this and if I made any other mistakes, please throw me a comment. I appreciate the feedback!
Ethereum Classic's official website: https://ethereumclassic.github.io/
descending wedge pattern matches well with the direction of the overall correctional Elliott wave, creating a short term bull case for ETC-BTC, while we have conflicting divergence (bullish divergence but hidden bearish divergence) on the RSI. This 4H chart will make the direction appear more clear, as I see in the RSI what could be a descending wedge now breaking bullish with a cross heading out of oversold territory.
ETC-BTC Bittrex 15min
ETC-BTC Bittrex | Target is the big yellow E (5th of March Callisto airdrop)