ETC to retest neckline before further gains during BTC rally
It's a strange feeling for me b/c I just included ETC among my Top 5 high-market-cap to invest in 2018 video on YouTube right before it skyrocketed --- and frankly I haven't bought yet b/c I've been focusing on my own project.
Right now, ETC has broken out of the inverted H&S. However, we're entering overbought territory. There're many reasons why ETC could outperform ETH this year, and I've explained them in my video, not going to reiterate here --- regardless of these long-term reasons, I see that the market is still very cautious.
This means after some handsome gains investors are likely to take profit at the first sign of weakness. At this point, I see a short-term correction to neckline as a retest (target $26).
I also believe that BTC is starting for form an ascending triangle & will break out around / after the Chinese New Year & rally to $12k (as I explained in another YT video; not going to reiterate here as typing is very slow). I have some updates on my BTCUSD post here on TV: note, the "rising wedge" is not the "ascending triangle" --- the two have opposite implications & in this case are on different timescales.
After the retest of $26, I see a target of $42.
Right now, ETC has broken out of the inverted H&S. However, we're entering overbought territory. There're many reasons why ETC could outperform ETH this year, and I've explained them in my video, not going to reiterate here --- regardless of these long-term reasons, I see that the market is still very cautious.
This means after some handsome gains investors are likely to take profit at the first sign of weakness. At this point, I see a short-term correction to neckline as a retest (target $26).
I also believe that BTC is starting for form an ascending triangle & will break out around / after the Chinese New Year & rally to $12k (as I explained in another YT video; not going to reiterate here as typing is very slow). I have some updates on my BTCUSD post here on TV: note, the "rising wedge" is not the "ascending triangle" --- the two have opposite implications & in this case are on different timescales.
After the retest of $26, I see a target of $42.
Comment:
Took longer than I thought for it to consolidate. No fall no jump.
Comment:
unbelievable: didn't retrace & jumped without notice...
the "btc rally" I mentioned are right where the long red arrow pointing upward is.