ETC/USD Main trend. Channel.

Logarithm. Time frame 1 week. The main trend. Idea for understanding where the price is in the main trend.


Linear chart for clarity and understanding of local cycles.

Secondary trend

ETC/USD Secondary trend. Downtrend channel. Pivot zones.

Comment:

Breakthrough of the accumulation channel resistance and achievement of the second local target of percentages on the breakout +46.44% to the level of 32.168. Local pullback. Zone -22-26 $. It is important that the price is held by the market maker above the resistance (mirror level, yellow color) of the accumulation channel for more than 1.5 years 22$

Price above the resistance of the set. Price squeezed into a corner. Local reversal zone:
1) Impulse-exit and continuation of local bowl formation.
2) Re-test- rollback to mirror level, confirmation and further price growth.

Comment:

This cryptocurrency is very interesting for medium-term (ETH pumping) and long-term (cycles). Naturally, such assets (ETC, less liquidity, higher %) cannot show their potential (ETH pumping and holding above 10k for a long time) in the accumulation zone or at the beginning of exit from it (participation phase), but in the distribution zone (cycle highs). Let me remind you that in the last cycle pamp about +3000%). In this instrument something similar will happen again, but of course not now and not in the near future, which is logical. Local targets and logic on the chart.

Trade closed: target reached:

About +85% to the level of 39.202, and from there a decrease, similarly exactly to the level of 26.7. A reversal from him.

🕯A triangle is forming in a local growing recruitment trend. From this zone there is about 40-50% left to the resistance zone of the rounded bottom (the final phase of #accumulation).

Then everything will be as always in stocks or liquid cryptocurrencies. A breakthrough of resistance may not be immediate, but that is not the point. After the breakthrough - consolidation, then re-test and scares. Confirmation and the beginning of strong, conditionally irrevocable impulse movements into the zone of “news prospects of this blockchain”.

Just then ETH will be higher or around $10,000. This will be its first consolidation - a partial reset, before being pulled into the final price reset zone (#distribution). I think the numbers and approximate time are known to many traders, but naturally not to hamsters. In this consolidation, not before maximum prices, the progenitor of expensive ether, that is, ETC, will surprise everyone, as before with an aggressive #news background. All speculative games, as in the last cycle during pumping, will be “slightly undulating.”


For well, not traders in the square. So, which of the hamsters has iron eggs, throw it at a couple of hundred and forget about 9 m, 13 m and 19 m. Sell in 3 parts (optional). But, if you don’t sell, you will get scared between these time zones of market pumping and sell everything during the “fear”. If there is a profit in advance, then this “warms the soul” and the feeling of lost profits will not play a cruel joke.

Leave a third of the invested money in dollars for additional purchases, in case there is a spill in the market (only 1 significant, sharp, unexpected). Ignore everything else, there will be enough coins to earn the initial ones. If the dollars are not spent and the price flies away, do not buy candy wrappers, but buy a gift for your loved ones.

I am sure that many hamsters, when a trend allows absolutely everyone to earn money, came up with the idea that they are traders, and will decide to increase the number of coins until they are distributed in logical and simple waves in a growing trend (so far). I am 99.9% sure that they will lose all the coins before half the price, or completely lose everything on #futures (your psychology is known in advance) with inadequate risks. Or they will simply get scared when the “passengers” are dumped and sell it, but they won’t raise a hand to buy it back at an expensive price.

Adequately evaluate your skills and behavior. Therefore, for some conditionally poor, but for those who want to be inadequately rich, and very quickly, it is better not to trade, and not even be interested in the market, until the market is distributed. Otherwise, each local peak (as always) in a growing trend will be perceived as the end, and when the end passes, after constant removals, on the contrary, as not yet a maximum.


Locally. Let me remind you that from the main recruitment zone (horizontal channel), the average price is now exactly +84%. Compared to other assets, the time of turning point from the accumulation phase and the transition to the market participation phase is not so much. That is, a conditionally lagging asset.

Trade active:

Duplicated on the exchange OKX, a little added to understand the logic and accuracy, as on the exchange poloniex, there is no liquidity. If something happens to have an idea on a more liquid exchange. As this cryptocurrency is interesting.