Etcusdlong
Limited downside potential for Ethereum Classic (ETCUSD)?:4hr tfMy previous post for Ethereum Classic (ETCUSD) can be found here:
It was mentioned in the previous post that Ethereum Classic (ETCUSD) was expected to continue selling off and likely target support as indicated in the previous post. Ethereum Classic (ETCUSD) at the time of this post is consolidating just below the support region (also shown here also with horizontal red lines as in the previous post).
Price action from ~$25.32 on May 7 2018 to the time of this post has been updated and identified as a 3 wave zigzag Elliott wave structure. Target area for the termination of the structure is indicated on the chart (~$14.51 and $13.67).
Point of invalidation (POI) for the current scenario is a price close above ~$18.23 at which point wave (iv) would have overlapped wave (ii) for the current minute wave ((c)) position.
Wave analysis for Ethereum Classic: 4hr tfMy previous post for Ethereum classic can be found here.
It was mentioned in the post that that a deep retracement was possible for Ethereum classic (ETCUSD) before the resumption of a sustainable uptrend. That is what Ethereum classic is working on currently as prices are currently in a downtrend on the 4hr tf.
Besides, the previous analysis expected a slight bounce off of either support 1 or support 2 before further selling continued.
Ethereum classic rather continued to sell off, taking out support 1 white it is meandering around support 2 at the time of this post. Price swing on the 4hr tf from ~$25.32 on May 7, 2018 to ~$16.93 is identified in this analysis to be part of a double zigzag Elliott wave structure that is not yet complete.
A possible termination point for the current downtrend is indicated on the chart with horizontal red lines (~$15.90 and $15.66). Failure of Ethereum Classic to hold support at the red lines could see prices return to test $13.75 region or even lower.
ETC EXPLOSION BUT WHEN?Traders,
Here we have ETCUSD 1D chart.
A heavy resistance need to be broken to launch a rocket to know exactly the the direction to determine the price.
But for now if we broke that level we will go to exact golden level to have 35$ hence and aim to correct from there but let's sing the news song
Regards,
Mohsen
ETC Wait Bullish Buy Target 28 USD1d timeframe. A good entry point, but you have wait for bullish trend start. Exit trade at the moving average line level.
Classic. Good Triangle and Buy levels
in the last idea we considered with you a triangle out of which gave us 6% profit. Now I have shown you the approximate levels for purchases
ETHEREUM CLASSIC(ETC) : Cup and Handle formation?ETCUSD pair has been forming a possible Cup and Handle formation. Keep an eye out.
This may be a good time to increase your holdings or open some new positions.
Take Profit zone: $20-21
Some good news about ETC. Do READ.
coinmarketcal.com
P.S: This is not an investment advice. This is for educational purpose only. Invest at your own risk.
Good luck trading.!
Peace.
Ethereum Classic’s (ETCUSD) 4hr tf updateMy previous post on ETCUSD can be found here:
Ethereum Classic’s current uptrend on the 4hr tf has been updated with the possibility of a Minor and intermediate wave degree terminating at ~$13.15 on April 06,2018, which both support the establishment of the current uptrend.
The most likely target for Ethereum classic is the 4th wave of the previous degree (i.e. Minor wave 4). This region has been indicated on the chart (~ $20.83 and ~$20.13). It would be great to see Ethereum classic hold in the region of the target area with another 3 wave correction established, as this would imply even further higher price for Ethereum Classic.
Point of invalidation (POI) for this analysis is a price close below ~$13.72
Swing Trading with Classic. Bull trend. Correction Part?
The last idea we considered a short position in Ethereum Classic. We received on my the idea of +5% profit. Now consider the swing strategy. Looks like he's still in correction, I'm not so sure. But I think he'll also draw a triangle. But here I have designated it as an impulse
Ethereum Classic (ETCUSD) 4hr tf analysisMy previous post on Ethereum Classic can be found here
It was mentioned in the post that Ethereum Classic was in a minor wave 5 position and more selling was to follow to complete minor wave 5.
Ethereum Classic is identified in this analysis as having completed minor wave 5, which also terminates an intermediate wave (C). This implies that Ethereum classic will sustain an upwards momentum and the target area ( ~$20.78 and ~$20.07) set in this analysis is the region of the 4th wave of the previous degree i.e. Minor wave 4.
Point of invalidation (POI) of this analysis (not shown here) is a price close below ~$10.00.
