Etc is in a excelant buy zone. It corrected from its previous upward movement to the 0.618 of Fibonacci and now it is above an important support zone. There is a high probability to this asset restart its upward trend.
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Ethereum Classic / BTC 240 Binance
ETC testing the bottom of the current range, while respecting the short term down trend.
As price gets squeezed here I will be watching for a potential long opportunity if we break trend and create a higher low on the retest.
(If price breaks to the down side there will be no trade)
Will be watching for 2 things on the break,...
I was looking at this support zone for a while now. After a 6% price gain in about 24h, the price kept dropping and dropping rapidly. Finally it found support which made the bears temporarily leave.
I see two important resistance zones directly above it, to which I expect the price to increase. Now that the hit of the support zone seems like a possible reversal...
ETC/BTC - Quick update ( not a financial advice)
Let's take a look at the chart above and see what reasons do we have to buy ETC
1. We have a breakout and a retest of that breakout on a daily chart.
2. The price was rejected from the support zone and is sitting above the 0.618 fib. level (very strong and important fib. level)
3. The price formed a double bottom...
to the ETC dollar as the market as a whole looks long.
now we're looking at the Bitcoin chart and we can really see how the new trend is formulated.
long from current level and stop loss for 8000satosha
the target will be a local hi
Friends, thanks for your likes and comments!
Good luck with trading!
ETC may have temporarily found support at 7100 sats regions and manages to break the trendline resistance.
This is a good sign for ETC bulls in the short-term but the battle is still too far.
There is a lot of trading action needed to shift the tide.
ETC needs to hold current levels and must not close below 7100s because
this will invalidate the...
I really like that structure on ETC/BTC - we have nice 5 waves up and now it looks like, that ABC correction is finished and ETC is ready for another 5 waves up. I am not in the LONG position yet, I have stop limit buy order at 8949 satoshi.