ForecastCity

There is a possibility for the beginning of an uptrend in ETCETH

Long
POLONIEX:ETCETH   Ethereum Classic / Ethereum
Technical analysis:
. EthereumClassic/ Ethereum is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 47.
. While the RSI downtrend and the price downtrend in the daily chart are not broken, bearish wave in price would continue.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (0.03180000 to 0.02930000). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (0.03180000)
Ending of entry zone (0.02930000)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
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Comments

I agree with your idea and I also expect the beginning of an uptrend in ETCETH.
+1 Reply
@fxniki, Thanks for sharing your view.
+1 Reply
fxniki ForecastCity
@ForecastCity, you're welcome. Accually I must say that I learn every day reading your ideas.
+1 Reply