Fun (Possibly somewhat educated) Guess / Predition of ETC Price
Alright guys, I thought it might be fun to take some wild guesses/predictions about ETC's near future.
I am so confident this will happen I am willing to bet 1 dodgecoin on it.
Disclaimer: a dodgecoin is worth less than a penny so I'm not confident and you should not make any trades based off of my guesses. I'm also new at TA and posted this for feedback so don't use this as an influence to your decisions. Do your own research
1.) the 50 day EMA and the .5 fib retracement levels are going to help curve the price back up to the .382 fib line, which will complete the neckline of an inverse head and shoulders pattern (red dotted line).
2.) With enough volume we could break right through this level, at which point the price will come back down to test it as a support, before moving upwards again, otherwise we will bounce between there and the .236 fib levels until we break that line.
3.) Once past the neckline, the price will follow my squiggly line between the fib levels which will act as resistance/supports, until it hits the inverse head and shoulders target, which just so happens to be exactly at .786 fib extension (if that's what it is called) line.
Rough target (.4400 - .4457)
I am so confident this will happen I am willing to bet 1 dodgecoin on it.
Disclaimer: a dodgecoin is worth less than a penny so I'm not confident and you should not make any trades based off of my guesses. I'm also new at TA and posted this for feedback so don't use this as an influence to your decisions. Do your own research
1.) the 50 day EMA and the .5 fib retracement levels are going to help curve the price back up to the .382 fib line, which will complete the neckline of an inverse head and shoulders pattern (red dotted line).
2.) With enough volume we could break right through this level, at which point the price will come back down to test it as a support, before moving upwards again, otherwise we will bounce between there and the .236 fib levels until we break that line.
3.) Once past the neckline, the price will follow my squiggly line between the fib levels which will act as resistance/supports, until it hits the inverse head and shoulders target, which just so happens to be exactly at .786 fib extension (if that's what it is called) line.
Rough target (.4400 - .4457)
Note
Price has curled around as expected but is now sandwiched in between the 50 day ema and the .5 fib retracement as support. We'll see who wins out between the bulls and the bears. Market is not looking the best today so my bias is towards the bears. will need some buying pressure to push the price back to the hypothetical neckline.Have my stop loss set and wouldn't be surprised if it gets triggered.
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.
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.