Ethereum Classic (ETCBTC) peaked Jan. 2020 and is finally hitting support.
After correcting almost by 100%, ETHBTC reached the same level it hit back in late October 2019...
When this level was hit, a strong bullish wave followed that produced over 240% growth.
With this support level now activated, we can expect a similar outcome.
Note: This is not a piece...
ETC is testing an important support level and is resulting in bitcoin turbulence. It Would be a great opportunity for open long if it does a reversal candlestick pattern on that level.
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Buy on 1 hour chart
Sell on 7h chart
Sell on 3 day chart
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AS ETC continues its multi-year down trend, I am seeing signs of investors longing the bottom (notice the ever-increasing ADL... which I assume are buyers since we are at such depressed prices). Also, notice the increase in volume. The circled fractals appear similar and preceded the prior 2019 ETC price pump. The HV indicates VOL is contracting since the...
ETCG braking out ?
After a long pitiod of pain Eth classic might be turning around.
I like the new CEO, she seems smart.
I don't think I have called a break out so far in advance before - too bad I did not make the trade my chart told me to make. But it still feels good to be right regardless of gains.
The price action is looking to push up to the down trend from early this year. If it happens to break above and hold a daily candle, for me it's a very bullish sign and will really pop very high. Look at the down trend like the cover of a pot. If the water boil pushes the top off the steam and water will over flow and push out. Right now ETC is starting to boil,...
I am currently bullish about ETC while EngineeringRobo remains neutral.
If you are holding ETC, you should likely hold and sell at the resistance level (5.77) or wait for EngineeringRobo sell signals.
If you are looking to buy, wait for further EngineeringRobo buy signals (as the EngineeringRobo is neutral and R/R ratio is below 2, trade isn't recommended) or...
Here is an example of a long trade, which is based on a breakout above the local downtrend and SMA100. It is a trade in the direction of the main trend.
Buy above 7.10USD
Stop below 6.70USD
Profit Target at 8.00USD and 10.00USD.
Risk per trade can be no more than 5% of the capital.
This post does not provide financial advice. It is for...