Hello traders! Today let's talk about ETC .
Important points
Approaching a descending daily trendline printed from the high formed 4 months ago.
Support zone ( Yellow line ) is strong , not even a daily candle has been able to break that.
Yesterday ETC closed the day with a bullish engulfing ( candlestick bullish pattern )
Would start to buy it , with a just a little bit of the capital , not a big size , then if should occur a breakout followed from good volume would increase the position , for the moment as i said would buy but with a little size.
Let's wait for this week maybe something could happen.
Have a nice weekend traders and take care of your capital.
This is just my analysis and not a financial advice
Important points
Approaching a descending daily trendline printed from the high formed 4 months ago.
Support zone ( Yellow line ) is strong , not even a daily candle has been able to break that.
Yesterday ETC closed the day with a bullish engulfing ( candlestick bullish pattern )
Would start to buy it , with a just a little bit of the capital , not a big size , then if should occur a breakout followed from good volume would increase the position , for the moment as i said would buy but with a little size.
Let's wait for this week maybe something could happen.
Have a nice weekend traders and take care of your capital.
This is just my analysis and not a financial advice
Note
As you can see, support has been broke in weekly too . Really a strong downside move , btc moved in the same way so affected all the coins. Next stop might be a weekly support zone around 0.00170000 , we will see in the next days.Note
Such a strong bullish candle with high volumes today for ETCNote
Remember that this candle isn't close yet , wait for the day before to open some position , be patient not greedy.Note
Continuation triangle?Note
Broke downside the triangle and now is moving inside a rectangle , in my opinion will break downside and will continue to fall until 0.00212500 zone , with EMA 200 that could act as support.Note
Ready for a 2nd impulse. Next target zone 0.00260000 , around previous highs.Note
Wow. Touched perfectly the resistance and now it's falling? Well , we will see in the next days , meanwhile is going to close a daily bearish engulfing.Note
Broke consolidation zone in 1h and moved upside to break daily resistance. Would buy that , in my opinion is ready to go for the 2nd wave , next target 0.00380000 - 0.00400000 zone.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.