Having just locked in 10% with our Long trade on #ETC we're looking at a small but well-worth-doing Short trade, expected returns of around 10%.
We've seen the price test and get rejected several times by the upper resistive trend line and now we seem to be trapped in a wedge formation - the price may trend within this range for a small time but given Crypto...
Even though we are near a significant support ETC shows a strong downtrend energy and I believe we can take some risk to harness it. So let's Short ETC .
We can watch these levels for a reversal:
0.00185
0.001325
But I suggest you to follow the trend and see where it goes before its energy exhausts.
And as usual, let's be humble and admit that...
We would just like to warn everyone holding Ethereum Classic at this time that potential for a short term drop is very likely. We do not anticipate anything close to Zclassic drop of over 85% but over 20% is possible here.
We will sell right before airdrop. Purchase back at good price if it falls right after.
If you want Callisto drop, hold, but just note that...
Ethereum-Classic is a phenomenal coin as is, but that is not why we will be having a crazy run up in price. ETC will be having an airdrop coming in on early March. Coin that will be dropping is called Callisto (CLO) and ratio is a shocking 1:1 - meaning that if you own 10 ETC, you will receive 10 CLO. Please note that we are not yet sure on which exchanges will be...
As long as the trendline continues expect some gains in the near future.
I have placed some fib extension levels indicating good exit positions.
Thanks and good luck to all!
