ETC sure has an interesting chart, doesn't it.
Flat, up, down, up, down, up, down ... collapse, up, down ... flat....
There's no clear cycle waves here past the first peak.
So what can we expect from this coin.
Well first thing is it is in a fairly good support area ... although down to $10 is a possibility, if BTC has a meltdown.
I would think though, it would have a tough time breaking through all that support to $10.
Is this the coin I see going to +$50??? Not based on the three sister peaks I see, shown here as a H&S pattern.
This coin will almost definitely have huge resistance in the $38 to $48 range.
That might seem good considering we are at approx $15 ... but does a 2.5x to 3x multiplier seem good, when other coins (like NEO) are discounted by +80% right now off their all time highs?
ETC for me is for a quick buck ... it's got support ... but I'd definitely be looking at selling when it hits key resistance, without thinking twice about it ... and rather move that cash into another alt.
Remember only a fool relies on one potential outcome.
Do not use this information for investment/financial decisions. For educational purposes only.
Flat, up, down, up, down, up, down ... collapse, up, down ... flat....
There's no clear cycle waves here past the first peak.
So what can we expect from this coin.
Well first thing is it is in a fairly good support area ... although down to $10 is a possibility, if BTC has a meltdown.
I would think though, it would have a tough time breaking through all that support to $10.
Is this the coin I see going to +$50??? Not based on the three sister peaks I see, shown here as a H&S pattern.
This coin will almost definitely have huge resistance in the $38 to $48 range.
That might seem good considering we are at approx $15 ... but does a 2.5x to 3x multiplier seem good, when other coins (like NEO) are discounted by +80% right now off their all time highs?
ETC for me is for a quick buck ... it's got support ... but I'd definitely be looking at selling when it hits key resistance, without thinking twice about it ... and rather move that cash into another alt.
Remember only a fool relies on one potential outcome.
Do not use this information for investment/financial decisions. For educational purposes only.