Ethereum Classics, Head-Shoulder-Formation, Main Determinations!

COINBASE:ETCUSD   Ethereum Classic / U.S. Dollar

Welcome to this analysis about Ethereum Classics, we are looking at the 4-hour timeframe perspectives. Ethereum Classics in recent times has established a very important structure that will be a determining source for upcoming volatilities especially when the formation has been completed however therefore it is necessary to rightly await the confirmations before considering further. As when looking at my chart now we can watch there how Ethereum Classics established this main head-shoulder-formation with the main parts of the formation already completed consisting of the left shoulder, the head and the right shoulder. As Ethereum Classics now recently formed the breakout below the neckline this was the technical completion of this whole formation and as Ethereum Classics now initially bounced back there is this confirmation formation forming marked in red in my chart which confirms the bearish breakout to the downside and is also the setup for the further continuations to the downside and also the development of the wave C. When this happens and Ethereum Classics continues with its developments it will move on further to test the lower support and dynamic target-zone from where stabilization can emerge as Ethereum Classics reaches the proper target and also support zone , from then Ethereum Classics needs to show how it develops further and if there comes a substantial stabilization for Ethereum Classics to properly back up.

In this manner, thank you for watching my analysis about ETHEREUM CLASSICS and its main head-and-shoulder-formation with the upcoming determinations to consider, support the analysis with a like and follow or comment for more market insight!
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Information provided is only educational and should not be used to take action in the market.
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