Looks like ETCUSD is playing a game of Peek-A-Boo using the current resistance zone to hide and reveal itself .. If ETCUSD can manage to overcome this level, 0.382 Fib zone could be the next target zone. Keep in mind this is the 4th attempt in 7 days trying to peek above current resistance zone, if it fails we could see price drop back down to the mid/low 50s.
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Since our initial post, ETCUSD has made a 22.62% move and surpassed the first target area. RSI is becoming extended which may push ETCUSD to move down and retest the 0.382 fib level as support. I've closed a chunk of the initial position but still have few runners with stop loss at entry.
Thank you guys for checking out this idea on ETCUSD . If you find this analysis useful, support with a simple "Like" or "Follow".
Trade carefully and remember these are just ideas, not trading advise.