Well don't blame me about the recent spike. You were warned on March 5th when I told you to buy at 4.226 on a perfect fractal recognition and target 6.500. Well ETC took off right after and touched 8.000 even!
Another perfect fractal has been spotted from the 2017 kick start...
Ethereum Classic #ETC. "Adam & Eve double bottom" pattern validated with breakout of the neckline happened just now.
In additional, breakout of the long term resistance since may 2018, and now positioned above the MA200.
Let's see if it will pump enough to get back to its past "normal price" over $12-15. ;-)
Conclusion for today’s Ethereum Classic Analysis: Conservative entry into a long (buy) position(s) is best carried out on a breakout above 9.47.
Over 17 months of price action is shown on the Daily timeframe of Ethereum Classic from October 2, 2017 to current date. Using a logarithmic scale for analysis and chart inspection, the bearish channel in Ethereum...
Position Filled. Discretionary trade
A second attempt at this trade will be made based on the weekly chart if Daily Stop triggers.
Risk = $0.24 per share
Full Position TP @5.8 option to switch to a trailing stop at this point if bullish moment remains strong
Reward potential 1.29 per share
R:R = 5.37 at Full TP
Lowest acceptable R:R at 5.23
The updates are coming as the reversals look like they are in sight... on many charts we are seeing double bottom patterns, or wedges in the final stages like we see here on ETC.
There are two scenarios I am seeing right at this moment one where ETC could still hit the top resistance on the wedge bounce down and then try again, or the second being...
Megalodon indicator is showing 292 buy signals VS 4 sell signals on Ethereum . We have to wait for our Strong Buy signals on Megalodon Pro to justify taking another bite at ETH.
After weeks of relentless consolidation in a range-bound market, the Ethereum Classic (ETC) finally made its first northward stride by storming past key resistance level of 4.50. Before the celebration could even begin, price has approached yet another critical hurdle at 4.75 that could halt further advancement for the comeback kid. From the current market...
Reversal patterns developing listed on chart. Price action may be on it's way.
The most important indicator= The significant volume flow in December 2018 for most of the market may have already identified a bottom. Coinbase is certainly geared up for a run and in addition Ethereum's Constantinople upgrade is a big deal. #bullish
Many rookie traders (such as myself last year) fail to realize the power of the "Log" button which puts these trends in a better perspective. This is especially important because crypto is so volatile. Chart here identifies potential few reversal patterns forming. If correct we have a 2019 trend line in bold. . Major resistance lines also identified.
Seems that we have almost confirmed "Adam & Eve" double bottom pattern which means that we have good chances to see a trend reversal. But we still have option of pattern's non-confirmation as well.
Confirmation price is above 5.75$ .
Also we are observing similar situation on ETC/BTC pair.