Technicals:
Taking a look at XVG for a friend and I don't see anything good going for it. At first it looked like it was developing a nice broadening wedge reversal, but it needed to hold above 46 Satoshis.
There's no bullish scenario for XVG without the log-scale, but XVG seems to move logarithmically, so it could have nice run up to 490 Satoshis. But with it...
Unfortunately for permabulls, I called it back on September 12, 2018. ETCUSD would hit 3.20's.
With more data, and the current market climate, it's very possible we will see ETCUSD at the $2.50 range (maybe even lower).
We're currently on the Y wave of an WXY correction, which may end up continuing as a WXYXZ correction.
Prices and zones I am watching out for...
Overall daily RSI and chart look very bearish. 4hr RSI looks like a good buy opportunity coming up. Here are two possible scenarios:
Blue scenario, wave 4 bounces off of the golden pocket at 11.95-11.79 up to wave 5 at a target price of ~13.91 where ETC has been hitting lower highs at the .214-.236 pocket.
Red scenario, daily ETC downtrend continues down to...
Not investment/financial advice, just for observational/educational purposes.
ETCUSD is currently trading inside of a channel. If it breaks out, it denotes the end of a double elliott wave combo and a wave 3 with targets of 13.13-13.49. If it stays within the channel, it denotes a triple elliott wave combo with a potential target of 11.82. Should it break below...
