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Feb 24, 2018 12:52 AM

ETC Inverse Head & Shoulder (iH&S)  Long

Ethereum Classic / DollarBitfinex

Description

Bitcoin makes a higher low formation holding support, which is important to note since ETC moves partly in tandem with Bitcoin. ETC looking quite bullish here with an Inverse Head & Shoulder pattern. Stop losses should be placed below the right shoulder, and sell targets should be around $42.00. Entry of 36.25 - 36.75 gives a Reward/Risk (R/R) of approximately 2:1.

Since Bitcoin has the potential to break its longer term trendline IF it pushes up, consider only taking 50% off your ETC position and letting the rest ride for all-time highs (ATH's).
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