ETCUSD is trading firmly within the 4H Channel Down (RSI = 42.146, MACD = -0.144, Highs/Lows = -0.0604, B/BP = -0.2995) and on its next Lower Low should hit our TP = 9.5050. This will be a Lower Lower for the commanding 1W bearish pattern (RSI = 38.303, oversold on STOCH, STOCHRSI, Williams), so a rebound is expected at 9.000 towards the 0.5000 Fibonacci at 12.300, which we will short. Update on that will follow.
so, it will continue down to 9 or $8 before it bounces? @InvestingScope , no hype before the ETF decision?
InvestingScope
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@Victorwu88, That is what this chart technically indicates. The fundamental hype can of course distort that but there is no way to measure this. We are closely monitoring this and updates will follow.
Victorwu88
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@InvestingScope, thanks! good call. will wait for the update
JonathanWoodhall
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What does this mean?! Lol I bout at $10.75 and now it’s decending to 9.00? Should I sell or do you think it will jump to 12.00? Someone teach me lol