ew-forecast

ETCUSD: Rebranding Ethereum Classic

BITTREX:ETCUSDT   Ethereum Classic / Tether
Hello traders! We got a lot of requests about our view on BITTREX:ETCUSDT due to upcoming rebranding. So, from technical perspective ETC looks bullish after we saw a big three-wave A-B-C corrective decline from highs. Even if ETC lost more than 60%, still looks corrective within uptrend. So, as you can see ETC has already broke channel resistance line and it's currently trading within sharp and impulsive waves higher, so we expect even more, but be aware of pullbacks which may happen after completed five-wave rally. If we take a look closer, we can see ETC trading in wave (4) correction, which may test 30 level before continue higher.

We will keep you updated!
Feb 18
Comment: ETC hit 30 level, ideal support for wave (4) and exactly as we expected. Ne aware of a bounce here, but if from any reason breaks below 26.40, then ETC would have only three-waves up and it would not be bullish confirmed yet and we may see something more complex.
Feb 18
Comment:
Feb 19
Comment: Traders, that was fast! Thank you very much for you attention. We are officialy in bullish trend, just keep in mind that in EW theory after every five waves, a three-wave pullback follow, so before ETC continue it's uptrend, we may see a deeper and longer correction!
Feb 20
Comment: ETC hit our projected target perfectly, just keep in mind that we have five waves up from lows and three-wave decline may occur soon.
Feb 21
Comment: Hello traders, ETC declined as expected and as we mentioned that after five-wave rally, a three-wave setback occurs. So, seems like ETC just started a deeper pullback, but we don't see broken channel support yet, which means that ETC can be still somehow in wave 4 correction as long as it's trading in a channel range, so if ETC breaks lower channel line, we may see 30 level again.
Feb 22
Comment: Ethereum Classic also just like BTC and LTC moving nicely lower with broken channel support line into correction of wave A as expected, so be aware of small recovery into wave B, before continue lower into wave C, where ETCUSD may find support around 61,8% Fibo. retracement and 26 level.
Feb 26
Comment: OK, ETC hit wave B, second wave od a three-wave correction, so be aware of another decline into wave C towards 26 level, just like we expect also on BTC and LTC!
Mar 02
Comment: ETC moving nicely lower as expected towards 26 level, where it may come to the end of correction!
Mar 06
Comment: Hello traders! ETC dropped and hit our projected support as expected, so we have to be careful around this support! We could see even lower levels, if we compare it to BTC and friends, so we strongly suggest to wait for bullish confirmation first, which would be five waves up from projected support or break above 39 level!
Mar 06
Comment: Traders, ETC hit our projected support, but that doesn't mean we will see a bounce here. We mentioned many times, for reversals we need a bounce with five waves, so this is not the case. Because of so sharp and impulsive wave C and expectations of BTC weakness, we may see eve lower levels here towards 20-22 levels!
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Comments

nice charting i missed this one but am still waiting for some longer bullish signs for btc
+2 Reply
@ew-forecast, what do you think of the ETCBTC pair. This chart is perfectly fine but most etc trades are done on btc basis. If btc surges, this movement might have little impact on etcbtc pair.
+1 Reply
ew-forecast retiringsoon1
@retiringsoon1, We see ETCBTC in wave 4 correction within downtrend, so BTCUSD may just stay stronger than ETCUSD within uptrend.
Reply
Thank you. I think you are 100% spot on with the price values, but it may happen a little later. This is just my personal opinion, and I think you are way more experienced. I think money will flow into LTC first over the next 7 days, BTC will likely retrace a bit lower, which will probably bring down the price of both LTC and ETC. ETC may move sideways whilst LTC rallies. We all know the reason is Litepay commencing from 26th February. Then comes the airdrop for ETC holders on the 5th of March. ETC is likely to break the previous ATH records unless BTC falls and pushes it much lower than 30, in which case ETC may just go to $44-$48 range.

Once again, this is just my opinion. I think your TA is excellent.
+1 Reply
@doctorkesh, ltc fork is tomorrow..i expect drop from ltc and movement to etc. i beleive etc will have another set of waves after 26th
Reply
doctorkesh retiringsoon1
@retiringsoon1, you have a very good point.

I still think BTC may go down $500-1k over the next 1-2 days. That might bring both ETC and LTC down. I don't see any other reason for ETC to go up at this time. First one on the list is Litepay. Then on the 5th of March the airdrop for ETC holders.

I have been wrong before though.
Reply
@doctorkesh, etc went down each time btc went up. I hope it goes up if btc falls :)
Reply
hi, when you have a chance can you take a look at ETC again please?

Thanks
Reply
Do you think there will be a fall to the 14 hights?
Reply
Muy buen trabajo, muchas gracias por todo.
¿Crees que ya estamos en (C)?
Reply
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