EthereumClassic/Ethereum is in a range bound and beginning of up trend is expected.
The price is above the 21-Day WEMA which acts as a dynamic support.
The RSI is at 52.
We opened 10 BUY trade(s) @ 0.03178736 based on ' Bullish Engulfing' entry method at 05.07.2018.
TP1= @ 0.0336
TP2= @ 0.0384
TP3= @ 0.0440...
Taking on the comments from my previous posts i have posted an updated version of the ETCBTC Chart. this time i have added in Fib Retracement. Again would appreciate any comments and ways i can adjust my analysis.
by my analysis i think we should be hitting the 5th wave now.however these waves can tend to be risky and fail. we should see some more correction...
Ill keep this short and simple, if you belong on etc this is a chance for some small returns. etc ill hit the red before going anywhere else.
it was thrice failed to break the resistance, once breaking through before the bears smashed it back below. it has broken a trend line and has formed a bear flag and has only just followed through.
there will be more...
From plotting resistance lines from the lagging span, you can get a clear picture off ware ETC could be heading.
The kumo cross combined with the tk across happening above the cloud indicates a strong bull signal. If the Volume can increase we can expect to see strong bullish behavior towards these resistance lines, most likely with bounces between.
Price has been in uptrend since 5th - 6th Jan and is Continuing: Market is Trending and Bullish
Swing Low: 13th Jan 4:00 pm - 0.002600 BTC
Swing High: 14th Jan 10:30 am - 0.003489 BTC
Just bounced of 50% retracement line - 0.003010 BTC
Also hitting Bollinger band Support
Also 10 & 20 EMA are very close so
= bounce is expected
Current Entry: at...
I think this will happen:
Cloud entry, tight edge to edge if cloud continues to get tighter. Kumo breakout with mediocre volume. Resistance at 518 and line above. Dependant on TK cross and kumo switch this will be a strong bull run especially if cloud is tight.