ETC chart is new and theres a lot of speculation between that and ETH so long term who knows what will happen.
Today i think we confirmed a long term trend line after the exit from a triangle formation i had been working with broke.
I think if this current rise can continue we could re-enter that triangle and break out potentially too.
If it breaks out that...
noob warning - I'm a noob.
consolidation, pump, retrace, consolidation, pump, retrace, consistent pattern of all time highs would be confirmed with a 3rd all time high in a row, and likely give enough confidence in etc to break trend and go even higher. at the moment going for 0.007* but depending on momentum might go further. I'll consider opening eth short in...
On the 1H there was alot of volume on a candle the closed lower than open. However the candle also had a local high. This could be a coinsidence. But i think it marks the beginning of the bear market, where the channel i drew, could touch the bottom, and then break down.
Noob trader here. Publishing this to help me track my progress in the ways of TA and to get feedback from more experienced traders. Anyone who wants to share some insight is most welcome to do so.
Lots of opportunities with this crypto pair. On the Daily on the right screen there is Bearish Head and Shoulder pattern. If price breaks and closes above .030 then it becomes invalid for me. If price holds I would look to get short around .024 with a target to .014. On the 240 min there is a potential Flag/Pennant pattern forming price could breakout above .030...
