Ethereum Classic . Still On. [200%+ Profits Opportunity]
The past 4 days was one of the sweetest for both ETC holders and the developing team. By default this reversal trend which happened on the past 4 days was actually expected as we earlier, in mid June, reported on our telegram channel that Coinbase was planning to list ETC and that it would be a very good opportunity for the coins holders. But most crypto traders didn't give much attention on the listing and didn't expect the coin to show this much progress specially because of the overall current market situation. As we have seen its reversal move though, ETC touched the 50% retracement level at around 296k sats. By this the wave which started to make a progress showed a very well volume backed up move. At this point the 1D chart showing that it needs a consolidation and will show us some correctional waves upto the 23.6% fib retracement level and will most likely start its 3rd wave creation towards the 78.6% level if volume keep moving like it did for the past days since the tweet from the Coinbase team. Therefore we expect some correctional moves for short term investment. But the weekly chart really looks like fine and a great opportunity for a longer term accumulation.
Indicators that confirms the elliottwaves creation are mainly the volume is looking very good for the time being. RSI is at 69 which shows that the trading possibility needs some patience till the correction gets its bottom. Both the 50EMA and 89EMA are still below the price. Which actually showed some up moves while the price corrects.
Fundamental reasons for long term accumulation signal is mainly the tweet that has been made by Coinbase on Friday which stated that
"Our engineering team is beginning final testing of Ethereum Classic on Coinbase products. We expect final testing to be completed by Tuesday, August 7, at which point we expect to announce that we’re ready to accept inbound transfers of t.co/l7smcSY3q8 "
on their twitter page.
Accumulation Zone : 225000 sats - 245000 sats
Stop Loss : 170000 sats
Possible Targets
T1 : 267900 sats
T2 : 295200 sats
T3 : 322500 sats
T4 : 361400 sats
T5 : 410900 sats
Good Luck.
Legal disclaimer:
Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications. With Regards. TeamTWA.
Indicators that confirms the elliottwaves creation are mainly the volume is looking very good for the time being. RSI is at 69 which shows that the trading possibility needs some patience till the correction gets its bottom. Both the 50EMA and 89EMA are still below the price. Which actually showed some up moves while the price corrects.
Fundamental reasons for long term accumulation signal is mainly the tweet that has been made by Coinbase on Friday which stated that
"Our engineering team is beginning final testing of Ethereum Classic on Coinbase products. We expect final testing to be completed by Tuesday, August 7, at which point we expect to announce that we’re ready to accept inbound transfers of t.co/l7smcSY3q8 "
on their twitter page.
Accumulation Zone : 225000 sats - 245000 sats
Stop Loss : 170000 sats
Possible Targets
T1 : 267900 sats
T2 : 295200 sats
T3 : 322500 sats
T4 : 361400 sats
T5 : 410900 sats
Good Luck.
Legal disclaimer:
Information on this channel is our team's analyst's "opinion" based on data available at this point in time. These opinions are not recommendations to buy or sell securities/commodities and cryptocurrencies. Trading and investing is a risk and you should not rely on this data to make any financial decisions. You must consult a financial advisory licensed by regulatory agencies in your legal jurisdiction. All information stated here and in our reports don't guarantee any possible profits or losses. Please do consider to do your own due diligence and research when making any kind of a transaction with financial implications. With Regards. TeamTWA.
Comment:
After we have reached our first target on our ETC call, Ethereum -10.22% classic have been in a correctional move. As you can remember we were arguing on getting into an activated trade while some other trading view pros triggered a call on the area of the 23.6% fib level around 225800 sats -0.10% level. On the 4H chart we are seeing that ETC is forming a falling wedge pattern from its recent high at 296900 sats -0.10% . Still it needs a confirmation indication before getting in a trade since alt markets is not stable at all. By this we must consider a correction continuation untill its strong support area at around 197000 sats -0.10% . But if it breaks and can close above the resistance on the small green circles upward we might see a rally for some cycles too. Both 50EMA and 89EMA also needs to be below the price to confirm a buy signal.
ETC as we forecast that it will correct towards the 23.6%fib level and is doig exactly what we predicted. Hope you guys are accumulating with a buy order using a risk management and buy order trading procedures. We are currently approaching for the next leg up. Stay focused on the move to see the reversal and get in for another leg up. With Regards. Team TWA.