ETC was stopped by bottom border of global uptrend channel and seems it reflected ETC up. On the other hand, ETC is forming downtrend symetrical triangle, which has all chances to dropdown price below 0.030 ETH. So, I expect retesting of global uptrend channel. If ETC fails, the next support level is around 0.023 - 0.025 ETH.
ETC dropped to 0.032 and new support is formed around this value. In case of breaking through that level, price go lower - around 0.030 or below.
It is still possible to ETC complete bearish H&S pattern. However, the probability is smaller. We can also see the beginning of the Bearish Flag. I see this option more real. Another Bearish pattern.
Don't get discouraged by so many lines in the chart. Just watch formed triangles. Each one is possible point of breakout. MACD shows we will probably go close to top triangle (red and orange lines), but then go back to green. And my humble guess is we will be riding green support line until next breakout point.
Here you see the uptrend channel that is formed for the ETC/ETH pair recently and price have been playing nicely within the ranges of the channel. Right now price is at the bottom of the channel and we can enter a long position if a nice bounce at this location happens (preferably 4h candle with good volume)
Entry: the top of the green candle (if formed)
Stop...
The chart looks good. The news are good. The market conditions are good. Ethereum is embroiled in disputes regarding recovery of previously hacked funds, EIP865, immutability, purity of chain, code is law. Efforts were made to address these issues silently but after Yoichi Hirai's resign, the issues have surfaced with more intensity. It is likely that some of...
Building on last idea and cleaned up chart . Same information as previous (linked) except a few extra confirmed pivots. Stop moved up from 0.0368 to 0.0398, assuming a 1-2 is in and another 1-2 (small) is being put in, stop under the 0.786 of the smallest, most recent 1-2. As with all alts, upside movement is most often associated to non "crashing" of the big 2,...
ETC/ETH will probably fall to 38.2% Fib after that it must make a decision go up and reach our target (cyan line) or fall to either 200 EMA or the 23.60% Fib level (yellow line or red line).
It also depends heavily on what Bitcoin is going to do as it tends to take altcoins down with it.
at this point we are push the edge need to break out of this rising wedge for another massive run. i also put down some resistance levels that we need to break threw lets see what happens. feed back welcome
$ETC looking to break out of the longterm downtrend on the weekly chart. A clean break and a new ath vs the $USD pair might be what it needs to continue upwards before the Callisto airdrop on March 5'th!
Working above the large step change, I count 1 completed 5 wave with 1 completed correction. The next 5 wave impulse is building, we are in the 1-2 of the 3. Reload at smaller 2, sell at smaller 5, reload at larger 4, sell at larger 5. Looking for a pivot at around 0.0375 to increase the confidence of the count (that is vs. loading up at the larger 2 - completed)....
