Often this pattern indicates a potential breakout, especially when combined with an increasing or max sustained stochastic RSI. Keep a close eye on it -- with the upcoming supply burn scheduled for ~Oct 25th I'd expect this to jump in the near future.
Last night's unexpected pump left EMC2 trading above 61.8 fib, continuation level; Several probe wicks into 61.8 where rejected and eaten up. I entered this trade just now, hoping for a continuation. Chart appears to be at a volatile level, with Bollinger Bands tightening on the 30min time frame. 2hour chart shows all candles closing above red OBV chart; hence...
5min charts show decent signs of a triple bottom reversal forming, and past few days overall trend looks good. Looking for a potential breakout here any minute *Please note that trading on short term charts like this is extremely high variance and I recommend proceeding very carefully and to do your own research before making any type of investment.
A reverse hammer candle price action has also emerged on EMC2 h4, a short-term profit target of 0.00002208 (29.4%).
OK, I am confident (75%) that wave 2 is complete at around 1750 sats - so referring back to previous analysis Wave 3 has extended to 2.271 FIB level, in this case 5500 satoshis. It is a big call. Fundamentally: 1. The market reacted negatively to the postponement of the coin burn, BUT it is still happening 2. A number of events scheduled for October which could...
Taking a look back at previous Elliot Wave pattern of EMC2: 1. Wave 3 Extended to 2.272 Fib Extension Perfectly 2 Wave 5 Extended to 2.272 Fib Extension Perfectly So If this latest impulse is a Wave 1 (not yet complete) it could give some excellent price targets based on historical price action. I am very much new to this TA game so any feedback, constructive...
Please follow me on twitter if you want more charts and insights: twitter.com/taproofficial Disclaimer: My posts are just personal thoughts and not advises. I dont suggest you to do or not do anything. Do your own research. Trade responsible.
So EMC2 RSI is overbought on the 1h and oversold on the 4h , i'd say it's on a downtrend and it has room to go even lower than this. I drew some support lines from where it might bounce , but i would wait for a confirmation on breaking the downtrend first :) Anyway , have fun
My support levels (blue) and resistance levels (red) are on the chart. Currently, EMC2BTC is moving towards the support at 0.00001800. Can it hold? I have 2 views, 1) Hopefully Support @ 0.00001800 to hold 2) If not next support @0.00001275. Disclaimer : I am not providing any calls, it is just my view. Take your risk, have a proper...
Now price is near "zone of influence" which consist of S-support + 0.786 F lvl + Demand zone Here price will solve further action: - 1st opton: will see reversal formation from ZOI - 2nd option: break out of S and further falling
Bullish setup in place. Multiple Fib and MA supports in the 0.00025 and 0.00026 range. Target should be 0.00038 and eventually 0.000460 Stoploss at 0.00024 Product news - Coin burn on 6th October can be another trigger
Entry 2700 sats. Short term targets are 3100 and 3400 sats. If failed, see support/stop-loss zone on chart.
EMC2 going to 5000 k sats easy once this cup and handle is done forming!
BITTREX:EMC2BTC Skyscrapers like Dubai, no taxes and red tape like the UK. If you build it they will come. That is exactly what it looks like, and so will $DBIX and Dubai Gold when they hit Bittrex. Prpare for the future and get the coin on Nova:)(Maybe I should take my own advice) Anyway, I can't call it, but my profits are good. It's simply one of those...