WARNING! I am extremely far from being an expert in Elliot Waves (ew) and all I know about it is really superficial and mostly from looking at what the pros do. Please do yourself a favour and don't follow this idea blindly, possible danger of getting rekt. Now to the ew, thats how I see the waves playing out beginning from the previous cup and handle breakout....
ETC broke out of above a pennant, its 100 day moving average and diagonal support lines 1 and 0 and also long term support line X, only to find resistance at support line Y. If we cant build support at line x, next support is at the 23% retracement and line 0. If bitcoin continues to rise in the days ahead, we could quickly test the 38% retracement and support...
So finally here it is, my first idea. Just a short intro to my trading activity so far to make it easier for you to interpret my idea. I have started to dig into trading in February, so I am very new to this and you should as always take everything you hear and see with a grain of salt. Do your due diligence and paint your own picture. So now to the interesting...
Recently completing a pennant formation, ETCBTC has in the past day breached upward through the pennant and to new support levels (line 1). ETC also popped back above its 100 day moving average which adds to further bullishness. We could see support build at line 1 before seeing the long term resistance level tested at line 0 (roughly 0.00275 BTC) MACD and RSI...
etc has many good things working in its favor including the geometry. this is my play book for near term. the blue dash line is the equivalent distance of green ab line. short term resistance at .00250 and then upward of .004, with minor pullbacks
The Elliott Wave principle suggests ethereum's impressive advance might be followed by a correction of similar magnitude
Eh. Lets see how it goes! Opinions? What other charts have you seen that match up with this one? What other charts do you see as likely to happen? Comment below.
It looks like Ethereum might break through resistance or continue down to support. What are your thoughts?
We are en route to my Buy Zone (green box) before a retrace to my Sell Zone (red box). Feel free to short from here. Keep your margin small and trade safe! Have fun guys!
If you look at my last idea, you can see where this idea originates. I think it will break the current resistance at ~45 and continue up to the ~$48-50 resistance mark. I will be selling shares around then because I feel it may go back down to what would be the ~$45 support (or even lower) to finish off the head and shoulders pattern. What do you think?
Well this seems to be a key area that can get us a pretty big move in case we break it. However BTC might bounce off current support level. Everyone is panicking. Ideal situation for a bounce to happen and get people rekt. If that happens I would expect us to consolidate around these levels. Either if we take a while with consolidation or just break through, I...
Seems like a stretch but giving shitcoins are pumping 1000% and ETC has decent people behind it, wouldn't be surprised if something similar happened.
Contination of series "Possible Scenarios" for Ethereum 2017 March Bubble. Orange arrows is unlikely to happen imo. However it's hard to predict what happens now while Bitcoin is not stable recent days due fork fud. Let me know your thoughts in comments!
Looks like an opportunity is presenting itself for us to buy ETC at a discount price. I am looking somewhere 2.05 to 2.10.
ETC consolidation. Adding more to my position on the breakout
Long since 0.0016 but just break the white line on double bottom.
At the bottom of a clean ascending canal, one can only be tempted to go long, especially considering that 0.618 were reached, which indicates profits were taken. The presence of a Shoulder-Head-Shoulder, might result on a severe breakout though. The strategy would be to go long and stop loss at breakout, and possibly go short. Good fortune :)