the daily chart of this market shows that it will experience a downward trend in the coming days but at the same time you have to be vigilant of the change of direction towards the opposite
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ETCUSD breaks out of it's falling short term resistance with a strong bounce off the lower bound of the rising channel. Personally, I still think this coin is worthless - as demonstrated by the many 51% attacks - but who am I to lay judgement on the market forces...
On D1, the cloud is directing upward, indicating an uptrend. You can visually see how the triangle price correction model is forming.
We recommend selling from the upper line of the triangle pattern when the RSI reaches the overbought level again.
Also, we recommend to close sell and open buy when the price reaches the range of $5,8 - $5,5, and the...
So is anyone actually surprised by this sudden sell off?
No, was it sudden - yes, which by the way is a good thing.
But if you look at the chart you would instantly see that we really just hit a previous Febuary High, before the Covid happened. Which is expected, and luckily it happened the way it did. A sudden droped triggered all kinds of...
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We'll see if it can rise above the 7.008 point.
If you're supported at 7.240, chances are you'll touch near 8.3.
If it falls, we need to...
A symmetrical triangle is formed. The base of the triangle is over 200%. The price is shrinking. I marked the observation area. Target levels are similarly shown on the chart.
A local upward trend is developing. The secondary and main trend are downtrends.
If the triangle is broken down, a double bottom will form.
I marked the zones of price levels. Remember the...
**EDIT: I don't know how to auto-zoom out for the chart view for viewers... best view is at 2hr to 3hr interval view***
so, after much Fibonacci Spirals and as many sine waves, Gann Fans, Pitchforks and fixed Gann squares. I've come to 2 conclusions...
1 .) Almost none of that was necessary.
2.) ETC is undoubtedly(in my opinion) going to run nearly the exact...
It looks like we are going to be stuck in a channel for a little bit longer in July and early August.
If this is indeed a micro channel, and a bullish one at that, with a potential breakout with some positive news for the market, then watch out this are going to get crazy real fast.
Currently BTC is @9288$ and we got pretty decent resistance between 9.35k and...
What do you think about Ethereum Classic? From my point of view, it is not so interesting as Ethereum, but for swing trading, it can be used as a part of the trading portfolio.
The price reached the resistance zone formed by 7.50USD and 8.00USD levels. It is possible to use a breakout above this resistance zone, but I think a pullback with the further reversal...
. There is a possibility of temporary retracement to suggested support line (6.35). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. ETCUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
An idea regarding Fibonacci
I believe the price within the arcs of the fibonacci circle move in waves
With 1.618 being a bearish wave in this case, with a bullish transition to another ring.
There seems to be a clear relationship between 1.618 and .618 its probably simple for someone more knowledgeable in this field which I am still learning.
Explains on chart....