LewisGlasgow
Long

ETC/USD - Cup and Handle

KRAKEN:ETCUSD   Ethereum Classic / U.S. Dollar
Upon finding this cup and handle pattern it reminded me of a brilliant idea by https://www.tradingview.com/u/pixi/

The graphics are just for a bit of fun :) but this is the structure I'm currently watching for ETC/USD.

Less than 24 hours ago I posted my view on the 1h timeframe featuring an ascending channel (chart is shown below).


This provides us with an excellent scope on future price direction, which I will use to my advantage for an ideal entry point.

In addition to all of the above, price has formed a valid bearish bat pattern on the daily timeframe (chart is shown below).

This correlates with the cup and handle pattern as it indicates a move lower before we breakout of the $3 range.


I've got plenty more analysis on the way, keep supporting my ideas and don't forget to add me on social media!
Comment: The handle is now starting to form as price is trading within a small descending channel on the 30m chart.


Expecting further declines before a big move up!
Comment: Ethereum Classic is now showing signs of a move up, especially after another test of the trendline.


I'm expecting a temporary drop to around 2.48 followed by an increase to re-test the trendline, we may see a breakout occur once this happens.
Comment: One final pullback before the big move up!!!
Comment: Although the analysis appeared like it was just for fun, this was a satisfying prediction.

I'm expecting the momentum to continue!
Trade closed: target reached: Big move up indeed :)

Comments

good job lewis as always, i would like to know what broker do you use or platform? im using a broker called Libertex and i would like to invest in cryptocurrencies... :(
Reply
LewisGlasgow jarvanjarvencio
@jarvanjarvencio, thank you! Bitfinex or poloniex are good exchanges.
Reply
Charming idea...
Reply
@FarEast, thank you!
Reply
coolscar69 LewisGlasgow
@LewisGlasgow, Good job bro
Reply
LewisGlasgow coolscar69
@coolscar69, appreciate it man :)
Reply
coolscar69 LewisGlasgow
@LewisGlasgow, ETCBTC Is on 0.044 margin is that a good entry point was getting cold feet i sold 0.042 ur tots will be appreciated thanks just a noob learning
Reply
im i too late?
+1 Reply
@aaqei, not yet :)
+1 Reply
aaqei LewisGlasgow
@LewisGlasgow, should i buy?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out