ETCEUR trade ideas
ETC Market AnalysisETC recently triggered a rally which was stopped in a drastic way on Massacre Monday sending the FIAT value back to support and reset the rally completely.
I am accumulating ETC because I think the latest rally triggered the end of the bear market and we can see support building on a new trend line.
It is very important to not fall down further (bottom yellow line) and start a slow accumulation to the upside from here, otherwise we can await further losses.
We currently see the critical phase of a new trend beeing formed and it is unlikely to establish a bear trend because the downside is exhausted and support was tested multiple times and holded successfully.
We are in Phase D of a Wyckoff Cycle and it will offer significant upside.
Once we can build support in the resistance zone we can advance to Phase E which makes our positions risk free.
Stop loss must be set to 13.70 Euro
ETCEUR: Monitoring the consolidation hereI came to the realization that ETCEUR potentially offers us more upside than $ETHEUR, once both trigger a new T@M uptrend signal, probably by the end of the month. According to my projections, $ETCEUR could go as high as roughly 210 Euros within 10 weeks, after breaking a previous week high, during the week starting on July 31st. My reccomendation is to hold off from buying until then, specially if it consolidates here, showing that it is being accumulated for a new mode higher. This trade will offer a nice hedge, against our intended $ETHEUR long positions too.
Best of luck,
Ivan Labrie.
ETCEUR Targets 50 and 100 until AugustETCEUR already in Trending mode due CCI and we ll see a fast move to >= 50 and the >= 100 until end of August.
There is nearly NO DIFFERENCE between ETC and Ethereum.. So I am collecting ETC in quantities as long as they r so cheap..
Also a chinese Exchange will start with ETC trading soon ..
Disclaimer:
(Ideas published are my private personal views about the current market situation usually based on chart analyses and my private outlook to the market.. At the end should everybody investing act on his own risk and understanding)