Ethereum Classic nice set up for up to 200% gains v Bitcoin.
Ethereum Classic is one of the few coins with good technical at the moment in this market. Its been a multi-month ascending triangle consolidation phase and seems ready to break soon. Ascending triangles are generally bullish patterns, combine this with the fact its appearing on the daily/weekly timeframe and bullish ichimoku signals gives a good case for a bullish growth in the near future. Also notice volume profile starting to increase.
All 4 ichimoku signals are bullish
1. Price above cloud,
2. Tenkan crossed above kijun
3. green kumo twist
4. Lagging indicator above price.
An entry now could be fine at 0.00296 btc, also A more conservative entry would be a breakout above the triangle top and previous highs 0.0038
Previous all time high- 0.0095btc.
A good stop loss is anywhere below the cloud/ triangle bottom support ~ 0.0245
entry now w target at previous ath and stop loss below cloud gives approx 13:1 risk to reward ratio.
All 4 ichimoku signals are bullish
1. Price above cloud,
2. Tenkan crossed above kijun
3. green kumo twist
4. Lagging indicator above price.
An entry now could be fine at 0.00296 btc, also A more conservative entry would be a breakout above the triangle top and previous highs 0.0038
Previous all time high- 0.0095btc.
A good stop loss is anywhere below the cloud/ triangle bottom support ~ 0.0245
entry now w target at previous ath and stop loss below cloud gives approx 13:1 risk to reward ratio.
Trade active:
Break above ascending triangle triangle
Comment:
Bounce off the daily kijun. good sign but on low volume.
Comment:
currently in anice consolidation phase above the ascending triangle. All ichmoku metrics look solid as well as a 50 day golden cross up over 200 day exponential price moving average. Callisto Air Drop set for March 2nd so expect a nice moon before then.