Hi everyone, Lets get started! ETC has been trading in a descending channel for weeks, however, Today ETC is showing us enough strength for breaking resistance and move up again, im not saying it will be massive but I think its gonna be a nice swing trade set up if the conditions apply.
-Chart Time frame: 4H ...
Entered a $EOS short trade here. All bearish signals
-Bearish TK cross
-Bearish future cloud
-Chikou under price & cloud
-ADX I'll add to the position if a bearish TK cross happens on the 4H chart.
Target: Previous yearly lows ~ 0.0004800-0.0004600
Here it goes again, we are back to lower lows as BTC was unable to hold the last higher low from prior chart of $3293. We lost that and its been a slow decline since with the two higher lows before 3293 ($3254 and our low of the year $3212) also giving way to bear pressure. Shorts are just now starting to climb back in so they are unlikely to be under any pressure ...
shows BTC compared to gold from 1974-2000. Based on an overlay of the pattern, I came up with a bottom of $3000 for BTC. Ironically 3k is the only point BTC actually tested the previous high on the run up to 20k, so it looks like we filled in all the gaps and testing previous support again. Everyone's screaming lower, well ...
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A fun projection made by waves and geometry.
The support for the A wave comes from the .887, median lines, and Moving Averages.
First B target comes from the .5 fib of the 20k high in Dec 2017 to projected low around 2,500.
(View related ideas for a more detailed count)
Thanks for any feedback!
XBT INTRA-DAY UPDATE
From our latest intra-day update I stated that wicks into the 3250$ zone would occur and we would find support at these levels before going on to test 3427$ first and then 3610$ thereafter on MEX. None the less, as I stated 3427$ was the first major resistance and this was difficult to break through. We saw a rejection at this level to ...