ETC S/R Flip & RSI Divergence - discussion of accumulation
Generally this divergence suggests this is the top. Here we have *just about* broken down out of an ascending wedge (a bearish pattern). This support is now turned resistance and ETC will have to either a) consolidate sideways or decline to support or b) bounce back into this wedge and close inside it to continue its rise.
However, ETC has just recently broken out of accumulation (it has been in a downtrend from 2017 hysteria of a peak of 45 dollars), and the primary trend is BULLish. Anyone shorting is up against over 3 years of constant selling and months of Ethereum Classic changing hands from weak to strong in accumulation!!! CONSIDER WHERE ARE THE SELLERS GOING TO COME FROM TO DRIVE THE PRICE DOWN AGAIN!??!
In my PRIOR CHART I told people to BUY DIGP on BITCOIN CASH because of THIS REASON of NO MORE SELLERS. however, I WAS WRONG and BITCOIN CASH did indeed DECLINE from 0.03 to 0.026soemthing - Daily chop that a short term trader woould be cosnider a losing of money and tying up of capital, but if you HELD and sold off at the recent breakout you could have turned 10 BCH from a 0.3 BTC to a 0.4 - 0.45! not bad for someone want ing a safe trade!!
I have seen multiple LINEAR charts showing with very learned technical analysis that Bitcoin has yet to complete a full C-eliot wave. However on a LOGARITHMIC chart (which you SHOULD be trading off, because we are interested in % return, not dollar amounts) and stock-to-flow, model, Bitcoin is still in a Buy zone and a further decline past the 6K mark looks increasingly implausible.
This is crypto and anything and everything can and does happen, just hedge all your bets!
I will NEVER buy ETHEREIUM AGAIN because they are planning to move to PROOF OF STAKE which is fraught with Problems, ETHEREUM CLASSIC is the ONLY ETHEREUM and CRYPTO CAT TOY DIGIMON CHAIN is just a LEGO BLOCKCHAIN IMITATION!!!
Thank you for Enjoy my SATIRE TECHNICAL ANALYSIS
NOT FINANCIAL ADVICE
However, ETC has just recently broken out of accumulation (it has been in a downtrend from 2017 hysteria of a peak of 45 dollars), and the primary trend is BULLish. Anyone shorting is up against over 3 years of constant selling and months of Ethereum Classic changing hands from weak to strong in accumulation!!! CONSIDER WHERE ARE THE SELLERS GOING TO COME FROM TO DRIVE THE PRICE DOWN AGAIN!??!
In my PRIOR CHART I told people to BUY DIGP on BITCOIN CASH because of THIS REASON of NO MORE SELLERS. however, I WAS WRONG and BITCOIN CASH did indeed DECLINE from 0.03 to 0.026soemthing - Daily chop that a short term trader woould be cosnider a losing of money and tying up of capital, but if you HELD and sold off at the recent breakout you could have turned 10 BCH from a 0.3 BTC to a 0.4 - 0.45! not bad for someone want ing a safe trade!!
I have seen multiple LINEAR charts showing with very learned technical analysis that Bitcoin has yet to complete a full C-eliot wave. However on a LOGARITHMIC chart (which you SHOULD be trading off, because we are interested in % return, not dollar amounts) and stock-to-flow, model, Bitcoin is still in a Buy zone and a further decline past the 6K mark looks increasingly implausible.
This is crypto and anything and everything can and does happen, just hedge all your bets!
I will NEVER buy ETHEREIUM AGAIN because they are planning to move to PROOF OF STAKE which is fraught with Problems, ETHEREUM CLASSIC is the ONLY ETHEREUM and CRYPTO CAT TOY DIGIMON CHAIN is just a LEGO BLOCKCHAIN IMITATION!!!
Thank you for Enjoy my SATIRE TECHNICAL ANALYSIS
NOT FINANCIAL ADVICE