afbitcoins
Long

Descending Wedge Etherium Classic

POLONIEX:ETCBTC   Ethereum Classic / Bitcoin
318 2 8
Where there was once etherium now there are two 'etheriums'. The original etherium has set precident for bailing out buggy dapps. And etherium classic which promises to be immutable and censorship resistant, (like the original etherium claimed to be). One which is controlled by etherium elites and one which values freedom.

You might guess which I prefer. Etherium Classic, ETC, has already had two mini bubbles and now falling hard however I expect it is near bottom now and will break upwards.

The market is in process deciding which should have greater value, for me ETC has greater upside potential from here.
Perhaps this is better position for a slightly modified descending wedge. I'm looking out for break up and bullish cross on 4hr MACD.

snapshot


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Ouch! Determined selling continues and now looks like wedge broke downwards. Maybe false breakout downwards? Whatever way I look at it, ETC looks oversold though. As always trade with caution.
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