biffbifford

ETC on the Daily -- Simple Charts for us Simple Folks!

BITFINEX:ETCUSD   Ethereum Classic / U.S. Dollar
No magic bullets here. I like the way ETC is trading between resistance at $5.70, and support at the .618 level $4.912. The Primary trend was breached and became resistance. We are now stuck in the range indicated.

We are range bound, for now, as long as we stay above $4.90/$5.00 area, I feel comfortable saying we are being accumulated and preparing to break up and thru resistance at $5.70.

I am accumulating ETC and looking for it to break $5.70 at some point. As with other cryptos, the move will no doubt be explosive.

Outlook: Neutral to Bullish .

My strategy: Buy as close to the $5.00 level as possible. A breach and close of the $5.00 level could indicate a short-term reversal, but that appears unlikely with buyers waiting to jump in at the all import $5.00 area. I would much rather be banging at the door of the $5.70 level, but I'll take what I can get, and if that means we're gonna hang around the $5.00 level then I'll just have to buy a bit more here and there! This is not expensive crypto, so a few hundred dollars here and there I can handle.

ALWAYS REMEMBER TO DOLLAR-COST-AVERAGE INTO THESE HIGH-RISK ASSETS. Seek out the simple straight forward analysis, with simple explanations that make sense and match what YOU see on the chart.

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I don't think we are gonna see any "break up" after the most recent 51% attack- do you-really?
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