Pato99

ETC Market Analysis

Long
KRAKEN:ETCEUR   ETC / EUR
411 views
8
ETC recently triggered a rally which was stopped in a drastic way on Massacre Monday sending the FIAT value back to support and reset the rally completely.

I am accumulating ETC because I think the latest rally triggered the end of the bear market and we can see support building on a new trend line .
It is very important to not fall down further (bottom yellow line) and start a slow accumulation to the upside from here, otherwise we can await further losses.

We currently see the critical phase of a new trend beeing formed and it is unlikely to establish a bear trend because the downside is exhausted and support was tested multiple times and holded successfully.

We are in Phase D of a Wyckoff Cycle and it will offer significant upside.
Once we can build support in the resistance zone we can advance to Phase E which makes our positions risk free.

Stop loss must be set to 13.70 Euro

Comments

Another excellent call sir! You're a real pro!
+1 Reply
Hello which exchange are you using?
Reply
yarr yarr
@Pirate4ever, Just noticed you are using euros also so I was wondering! I am using kraken but it does not have stop loss orders.
Reply
@Pirate4ever, yeah you need to do it manually on kraken
Reply
FBATAKCI Pato99
@Pato99, I set the stop loss per your recommendation and thank you, did not loose much when it dipped again last week. Do you suggest to get in to ETC again or should wait a little more to see how it goes?
Reply
Pato99 FBATAKCI
@FBATAKCI, ETC currenlty looking bearish vs ETH.
ETH might be the better choice for now
Reply
Should we update our stop loss to 14.30 (current yellow doted) from 13.70 (previous yellow doted)? Thank you
Reply
Pato99 FBATAKCI
@FBATAKCI, stop loss can be set to the daily low 15.05 euros
Reply
FBATAKCI Pato99
@Pato99, Thank you, got it!
Reply
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