veryevilone
Long

ETC Looking like a good buy

KRAKEN:ETCXBT   ETCXBT
ETC been in alot of downtrend lately. I think the market is depressed. Some key trend lines broke violently on the way down and i think everyone has little hope. Yet, we can see a form of double bottom forming. There is a bull div             on the 1H. We are the bottom of a channel. On the large timeframes we are well below the yellow 9 EMA indicator which also suggests buy. I dont know about you. But i think this one is worth a buy. At least to the top of the channel.
Comment: Ok i want to be a little more conservative and consider exiting even at middle of channel. There is a possibility this channel could break down, but the possibility is also there for it to break it. I mean ETC has gone down consistently over a relatively long period of time. It mus turn around eventually. Right?
Comment: Do not try to catch a falling knife.On a similar note, channels that go straight seldom exist. So i dont know what i was thinking.
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