Ethereum Classic and its Wall Street cousin ETCG led BTC by a few weeks in the bull market and also corrected a couple weeks sooner. Seeing a higher low on the 5 RSI and dissipating downward momentum on the MACD with the averages looking like they’re about to cross leads me to believe ETC/ETCG will come out of the correction/consolidation ahead of BTC.
Nothing but good news about this project and I don’t think Grayscale is in the business of creating exchange traded products for just anything.
Upcoming upgrades to ETC along with the Metronome project to give it interoperability with the ETH blockchain bode well for its future performance.
This breaks my trade rules but I’m getting into this for an intermediate position…not a swing trade. A 71% retracement and bottomed out MACD are pretty harsh, but nothing says it can’t come down more. That’s why I’m scaling into ETCG with quarter-sized buys each week while it’s under $20.
Not financial advice. If you have anything to add on ETC please leave it in the comments.
Nothing but good news about this project and I don’t think Grayscale is in the business of creating exchange traded products for just anything.
Upcoming upgrades to ETC along with the Metronome project to give it interoperability with the ETH blockchain bode well for its future performance.
This breaks my trade rules but I’m getting into this for an intermediate position…not a swing trade. A 71% retracement and bottomed out MACD are pretty harsh, but nothing says it can’t come down more. That’s why I’m scaling into ETCG with quarter-sized buys each week while it’s under $20.
Not financial advice. If you have anything to add on ETC please leave it in the comments.
Still looking good as of Friday. Hopefully market open tomorrow doesn't make me look like an ass. Looks like a good double bottom, but more touches along the same line also increase probability of breaking through it. Time will tell.