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Fediculous
Jun 13, 2018 10:12 AM

To buy or not to buy? (ETC) Long

Ethereum Classic / BitcoinBinance

Description

After the news of ETC being listed on Coinbase, its price moved with more than 20% in a very short period of time. The time to buy has come after BTC -1.76% has fallen further and is close to potential short term reversal probably to at least 7000-7500 region.
The volume on ETC for the last 24h is more than 350 mil with a market cap of 1.3 billion. This makes a ratio of 1/4 of volume/market cap indicating the interest for the coin is very high right now. Normally, this ratio is something like 1/20 especially for the bigger altcoins.

I will update with sell targets but for now make sure you start layering buy orders.

Trade closed manually

The market does not look bullish enough to continue the trade. It is safer to take profit here.

Comment

Trade closed at 10% profit
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