Overall daily RSI and chart look very bearish. 4hr RSI looks like a good buy opportunity coming up. Here are two possible scenarios:
Blue scenario, wave 4 bounces off of the golden pocket at 11.95-11.79 up to wave 5 at a target price of ~13.91 where ETC has been hitting lower highs at the .214-.236 pocket.
Red scenario, daily ETC downtrend continues down to potentially 9.80, before making a short term bounce back up.
Not investment/financial advice, just for observational/educational purposes.
Blue scenario, wave 4 bounces off of the golden pocket at 11.95-11.79 up to wave 5 at a target price of ~13.91 where ETC has been hitting lower highs at the .214-.236 pocket.
Red scenario, daily ETC downtrend continues down to potentially 9.80, before making a short term bounce back up.
Not investment/financial advice, just for observational/educational purposes.
Note
RSI on 4hr and daily chart nearing oversold.Note
~9.80 Target hit at 9.84 before a quick 73 cent bounce on Bitfinex. However, there may be more in store for the bears on daily chart. There is very little in the way of falling to $7.11 and below.
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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.