EMC2BTC - A correction looks due before the next leg
Updated
EMC2 has been doing great lately however this resilient little coin looks overdue for a correction. I'm looking at a correction to 6780 (1st) and 5450 (2nd) before the next leg which should take us to Fib 2.618 (13266 satoshis). Let's see how this plays out.
Note
As I've said before, this is one resilient coin. Attempts to bring it down has only resulted in minor corrections. At this time it has crossed 15k satoshis. RSI is crusing along the 70 line while the EMA-%R pair has just crossed into bearish giving a sell signal. I personally think this sell signal will be short lived. Resistance is at the 4.236 Fib (15641 satoshis) and support is at 3.618 Fib (13379 satoshis).
To those already in the trade, good luck!
Trade closed manually
I've updated the trendline. Will be posting a new chart soon.
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