Since June, a downward wedge has been forming since the last high. Volatility decreases, the price is almost in the corner. We will see the denouement soon. I showed the area for observation on the chart.
Long script. If the descending wedge is broken up, the entrance will be on a breakthrough or rollback after the breakthrough with confirmation of support.
The first movement of about + 20-40% is to the upper trend line of the downward channel. If the price breaks this trend line and fixes above it, then there is a high probability of a trend reversal.
Wedge targets - $ 8-10. Thus, as the movement moves to develop a downward wedge, the price can form a double bottom. If the price breaks through the resistance (the previous local maximum, the yellow line is $ 10) and fixes above it, then the figure potential has a double bottom + 200% This will be a full trend reversal.
Down wedge objectives: 1) to the downtrend $ 5 2) $ 6-8-10 3) $ 10 and even up to $ 30 if the resistance of a potential double bottom is broken and the price fixes above it. Full trend reversal.
Stop loss Under key support levels during your entry into the market. Do not forget to move Stop Loss during the price increase, but take into account the volatility of the coin.
This plot is plotted on a large scale. Work on ETC / USD Pivot Points. Channel. Wedge. Double bottom.
Trade closed: target reached
⋅
+ 19%
Trade active
⋅
Trade closed: target reached
⋅
+80%
Trade active
⋅
Trade closed: target reached
⋅
+150%
Trade closed: target reached
⋅
+193%
Comment
⋅
Comment
⋅
Profit is now about + 225%, and who actively trades much more. This is a liquid instrument, it is not an altcoin below the top 50. This is a lot of money.