Ethereum Classic: Market Pivot
We have been following this pattern for a while. Shorting the horizontal resistance near the red Moving Average is the hedge. If the pattern confirms to the upside then a breakout long is the trade. Bullish pattern would be invalidated by a new swing low.
Disclosure. The author does not own any ETC.
Ethereum Classic Market Pattern
The pattern continues to hold. A new swing high from the high 2 weeks ago with a continuing pattern would suggest buying the breakout and any short term dips.
Disclosure. The author does not own any ETC
Ethereum Classic Still Repeating Market Structure
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.
Article from May 3rd
Disclosure. The author owns a small bag of ETC
Ethereum Classic (ETC/BTC)
Ethereum Classic vs Bitcoin
ETCBTC is looking a lot like BTCUSD was in early 2019. Based on the current location within the pattern it seems like the safest trade is a long above the localized resistance (Red line). New lows with volume will likely invalidate the idea.
Ethereum Classic (ETC) – Pumpthereum 2.0
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.
Charts are powered by the SCMR Analysis Suite on Tradingview.com
BTC Tip-Jar: 18BBg2dhuvxqwoH9u1sVeEwMgMqESAZ79a
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