chartreadingpro
Short

Despite overall crypto rally, ETC is looking bearish

I'd like to interpret it as weak. Here is my argumentation:
-> Firstly, it is acting weaker than TOTAL index (orange line). Despite the overall bullishness in crypto-industry, ETC has been remaining flat over the last days or even weeks.
-> These are SLKT bars. They aimed to attract buyers into pseudo-pump and kill SLs of sellers around psycho-number 13.0.
The last red wide bar also looking as the attempt of bears to counter-attack and breakdown blue trend-line. Taking into account growing FOMO emotions on the crypto market, and possible pullback - ETC bears can use it reach new lows below 11.0.

Anyway, expect support from DB around 10.0

Comments

Totally agree, also its a very clear classic H&S pattern on 4hrs and daily charts
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