Triangle broke. 1W Fibonacci rejection. More downside.

The 1D Ascending Triangle on ETCUSD broke to the downside (MACD = -0.502, Highs/Lows = -0.9828, B/BP = -2.7253) as 1W (commanding bearish trend of the year/ RSI = 39.563, Highs/Lows = -1.9334) made a 0.500 Fibonacci Rejection as it has done on the previous two Lower High rejections. This emphatic rejection most likely indicates that this bearish reversal is sustainable and 5H is already oversold (RSI = 23.640). We remain bearish on ETC, TP = 9.5050.