Jumped up above two trend lines this morning (they form a yellow X). Volume is big. Nice W market structure at the bottom. Good to at least the longer term trend line at $17.00. Crypto is catching fire. Here is one way to get some exposure to it.
Was gonna publish this sloppy chart a few days ago and go a little heavier on it myself but its probably still worth buying the breakout with a close stop. Only grayscale fund to not go full batshit yet
ETCG fund overshadowed by ETC hack
WE know this could blow over and it will pop up any day now.
I will nibble around $9 til the inevitable break out.
Hopefully this happens before Sept 18th but i can wait.
ETCG braking out ?
After a long pitiod of pain Eth classic might be turning around.
I like the new CEO, she seems smart.
I don't think I have called a break out so far in advance before - too bad I did not make the trade my chart told me to make. But it still feels good to be right regardless of gains.
50 day 100 day and 200 day
For the first time
all three moving averages have converged.
For the first time - something is going to happen!
With the entire Crypto market cap climbing
over the last few months I think we go up from here
Look at the RSI it should be lower but sometimes we have such strength the price just moves higher.
During the last bull run in May and June last year, ETCG, the OTC fund, performed around 4.8 X the high price of the cryptocurrency ETC, Ethereum Classic, which it tracks. This was bewilderingly high performance.
ETCG went on to abruptly lose almost all of this value before Ethereum Classic even truly began its deflation from its high. ETCG is very volatile.
Ethereum Classic and its Wall Street cousin ETCG led BTC by a few weeks in the bull market and also corrected a couple weeks sooner. Seeing a higher low on the 5 RSI and dissipating downward momentum on the MACD with the averages looking like they’re about to cross leads me to believe ETC/ETCG will come out of the correction/consolidation ahead of BTC.
Dorsey on Ether: 7/8/2019
This was sent out to members yesterday. We are going to be diversifying our reports and adding certain sectors/etf instead of just covering the SPX. We did our first one yesterday and the timing was perfect, as etcg was trading at 21.10 when it was sent and hit a high of 23.70 or an 18% gain in 1 day. Not BAD!!
From Woody Dorsey: I...
Grayscale's ETC product (OTC: ETCG) has had rockets attached to it since it hit the market earlier this year. Not sure if it's crypto hopium bleeding over to Wall Street or demonstrative of demand for exposure to crypto without holding it, but it adds to the arsenal of money making plays with traditional trading platforms.
ETCG retraced about 50% from its recent...
I just did a logarithmic version of the same chart for ETCG. This shows price movements better because it is relative price movements rather than distorted ones caused by increasing scale as the bull run goes on. Much better patterns for trading on.
Top and bottom trend lines on ETCG for guiding profit-taking and dip-buying. Also comparisons with ETC, BTC, and GBTC. ETCG is trading at almost 5 times value of underlying ETC! This indicates we could see big multiples ahead, even much more than in Ethereum Classic itself.
I'm new to this but just trying out some Fibonacci on ETCG. I think I'm seeing the possibility of a rebound from almost completing the low with wave 1 of this last cycle. Any feedback or criticism appreciated