Ethereum Classic Still Repeating Market Structure

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Market Market Algorithm Still on Auto Pilot

Very quick update from the original article and chart from May 3rd (as seen below). If the pattern continues the next step to watch for is a move higher on the StochRSI to from some sort of “base building” on the price chart. Stay vigilant.

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Article from May 3rd

Disclosure. The author owns a small bag of ETC

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Ehereum Classic

Ethereum Classic (ETC) – Pumpthereum 2.0

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Click Chart to Enlarge

Pumpthereum 2.0

ETC seem to be doing what ETH did well in 2016, that being super high volume high liquidity bull market trading. The 4H (bottom panel) has an interesting pattern to it that has acted as horizontal support (see sideways red arrows). The daily chart is showing support and the volume seems to point to accumulation over the last few days.

As long as the price is above the previous sideways red arrow then the short term trade is to buying the dips and run with the bull.

 

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