Lets get right into it. We are looking at a 2h ETCBTC chart. As you can see we have had a normal Elliot Wave uptrend, and thereafter a retracement. We have at this very moment retraced 61,8 %, and normally we can soon expect, if it is healthy coin, a reversal.
And that is exactly what we can see is about to happen here. D4rkEnergY has drawn a descending wedge for you, which is a bullish sign. It basically means that the bears in a downtrend are losing momentum more and more.
The decline of volume is emphasizes this too. And the RSI shows that the coin is almost oversold. MACD is about to make a bullish cross.
So dear, beloved followers, be ready, be prepared to make money... But only if....
As always; We NEED confirmation. We want to see a breakout. Most of all a nice and big Marubozu candle with good volume!
You are welcome, guys!
OUT D4rkEnergy is everywhere D4rkEnergY predicts everything
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.