ETC.usdt Break Out under way? Ethereum Classic could JUMP 40% ++
Followup to my previous ETC plot of resistances (click).
Now it looks on the verge of a breakout from massive resistance.
If this can retest resistance, that would be a good entry long.
Left Chart is 3D timeframe, showing the high tf FB in play.
Right Upper is 2h timeframe, covering the last wave up.
Right Lower is 34 min, for detail look at zones and prices.
Ideally, I like to see a "Ping" off a support zone to enter trade.
Likewise, if I see a Ping in opposite direction, time to get out.
So right now we need to watch each line for further clues.
$ 5.0777-4.0947 is key support that would Ideal launch point or the fib above it.
$ 5.1914-5.2041 is 1st resist, some consolidation between them is expectable.
$ 5.4556-5.4880 is 1st TARGET that if hit, I will post an updated Idea then.
.
See some of my other plots and trade calls below.
I also plot Forex and Stocks, take a look at my profile page.
EOS $5.1 top Call (near perfect plot)
LTC to $150 call (near perfect plot)
BTC $14k call (Near Perfect target, easy trade)
ETH breakout (instant Profits, no drawdown)
BTC bottom 3.1k (caught the EXACT bottom)
ADA breakout (PERFECT targets, massive profits)
ZRX bottom call(200% gain, Perfect target)
ZRX breakout (massive Profits, short wait)
XLM breakout (massive Profits, instant Win)
RVN top call (Perfect Target, take profits)
LINK re-entry (caught the spike)
MATIC top Warning (caught the EXACT top)
MATIC rocket (massive Profits, breakout entry)
NEO Rocket Launch (great entry, massive profits)
FET top warning (EXACTLY on time)
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Now it looks on the verge of a breakout from massive resistance.
If this can retest resistance, that would be a good entry long.
Left Chart is 3D timeframe, showing the high tf FB in play.
Right Upper is 2h timeframe, covering the last wave up.
Right Lower is 34 min, for detail look at zones and prices.
Ideally, I like to see a "Ping" off a support zone to enter trade.
Likewise, if I see a Ping in opposite direction, time to get out.
So right now we need to watch each line for further clues.
$ 5.0777-4.0947 is key support that would Ideal launch point or the fib above it.
$ 5.1914-5.2041 is 1st resist, some consolidation between them is expectable.
$ 5.4556-5.4880 is 1st TARGET that if hit, I will post an updated Idea then.
.
See some of my other plots and trade calls below.
I also plot Forex and Stocks, take a look at my profile page.
EOS $5.1 top Call (near perfect plot)
LTC to $150 call (near perfect plot)
BTC $14k call (Near Perfect target, easy trade)
ETH breakout (instant Profits, no drawdown)
BTC bottom 3.1k (caught the EXACT bottom)
ADA breakout (PERFECT targets, massive profits)
ZRX bottom call(200% gain, Perfect target)
ZRX breakout (massive Profits, short wait)
XLM breakout (massive Profits, instant Win)
RVN top call (Perfect Target, take profits)
LINK re-entry (caught the spike)
MATIC top Warning (caught the EXACT top)
MATIC rocket (massive Profits, breakout entry)
NEO Rocket Launch (great entry, massive profits)
FET top warning (EXACTLY on time)
Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.
Comment:
Nope, no good. Will keep looking
.
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Comment:
Ping, but of the wrong kind :(
So now have a couple of Pings from UNDER side
Not a good sign for bulls.
Bears might consider a short here, with SL just above that fib line.
Bulls like myself will need look for supports lower, and wait for a Ping off one of those...
(any fib line can is worth watching, but a "zone" is preferred because that will have a confluence of fibs and thus stronger than a solo fib).
.
So now have a couple of Pings from UNDER side
Bears might consider a short here, with SL just above that fib line.
Bulls like myself will need look for supports lower, and wait for a Ping off one of those...
(any fib line can is worth watching, but a "zone" is preferred because that will have a confluence of fibs and thus stronger than a solo fib).
.
Comment:
What a "Tease" !
Pretending to Ping and walk away, only to come back for another kiss
This can actually be a bull sign:
"Sizzling" against a fib line for a while weakens it.
Lack of real "rejection" says bears are not jumping on.
The rest of market is dropping right now, but this creature is still floating near the surface.
I think if BTC goes again, this creature will come screaming out of the door.
.
Pretending to Ping and walk away, only to come back for another kiss
This can actually be a bull sign:
"Sizzling" against a fib line for a while weakens it.
Lack of real "rejection" says bears are not jumping on.
The rest of market is dropping right now, but this creature is still floating near the surface.
I think if BTC goes again, this creature will come screaming out of the door.
.
Comment:
Another Ping
but too close to resistance above, which as proven to be heavy.
So will wait for next fib lower, OR a break and retest of fib above like it almost did in first update above....
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So will wait for next fib lower, OR a break and retest of fib above like it almost did in first update above....
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Comment:
Ping!
Perfect reaction at the pre-mapped resistance zone
That is a pretty strong resistance, and distinctly different than the one below, as evidenced by the different reactions.
Thus my decision before hand to separate those two bands instead of one big zone.
Perfect reaction at the pre-mapped resistance zone
Thus my decision before hand to separate those two bands instead of one big zone.
Comment:
Damage assessment of above Ping ^^
Adding a fib to the pullback since the Ping reveals a couple of things (see callouts on chart)
$4.917x test VERY possible but should bounce STRONG.
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Adding a fib to the pullback since the Ping reveals a couple of things (see callouts on chart)
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Comment:
Sizzling against the Ceiling:
ETC has been dancing on this zone like a water drop on a hot fying pan
.
Zoom IN (1 min)
Blue arrows show the relevance the fib lines and confluence zones.
But the GREEN arrows point to interesting new data, the piercing on second approach.
Thus my point about "sizzling" :
Market buys were chewing into the limit sells on order book around the $5.2 area.
First attempt ran out of energy, resulting in corrective decline.
.
"Corrective" vs "Impulsive" wavs (see callouts on chart)
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SUMMARY:
- The resistance was hit, correct wave followed, then an Impulse wave pierced it just now.
- The last wave up looks to have a fib to work with while projecting targets.
- All in all it looks quite BULLISH still, and has good chances of a breakout and spike.
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ETC has been dancing on this zone like a water drop on a hot fying pan
.
Zoom IN (1 min)
But the GREEN arrows point to interesting new data, the piercing on second approach.
Thus my point about "sizzling" :
Market buys were chewing into the limit sells on order book around the $5.2 area.
First attempt ran out of energy, resulting in corrective decline.
.
"Corrective" vs "Impulsive" wavs (see callouts on chart)
.
SUMMARY:
- The resistance was hit, correct wave followed, then an Impulse wave pierced it just now.
- The last wave up looks to have a fib to work with while projecting targets.
- All in all it looks quite BULLISH still, and has good chances of a breakout and spike.
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Comment:
Excellent Progress.
Per last post above, it proved to be an impulsive wave, then we SPIKED as expected
.
Zoom OUT (Daily)
We have pierced the 3.236 fib and currently "resting".
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Zoom IN (3 min)
it was that Ping at $5.3191 that launched the spike.
As I like to say:
"Not all pings start a reversal, but Most reversals start with a Ping".
.
Zoom OUT a bit (5 min)
We just got a clean Ping at the 4.236 of new fib, at $5.4224.
Am NOT confident that ping will send us to new highs, but lets see.
.
SUMMARY:
- The Impulsive Wave structure spotted during last update proved to be a valid start of bounce.
- The big jump came after a very clean Ping on a solo Fib, and we just got another such ping higher up.
- Most of the "hard" work is done (strong resistances in close proximity), so expect a resting/consolidation period.
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Per last post above, it proved to be an impulsive wave, then we SPIKED as expected
.
Zoom OUT (Daily)
.
Zoom IN (3 min)
As I like to say:
"Not all pings start a reversal, but Most reversals start with a Ping".
.
Zoom OUT a bit (5 min)
Am NOT confident that ping will send us to new highs, but lets see.
.
SUMMARY:
- The Impulsive Wave structure spotted during last update proved to be a valid start of bounce.
- The big jump came after a very clean Ping on a solo Fib, and we just got another such ping higher up.
- Most of the "hard" work is done (strong resistances in close proximity), so expect a resting/consolidation period.
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the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag
the Trading View is my Nation
the Moderator Tag is my Flag
Maybe, watching closely here