ETC headed into bear market
On the 1H there was alot of volume on a candle the closed lower than open. However the candle also had a local high. This could be a coinsidence. But i think it marks the beginning of the bear market, where the channel i drew, could touch the bottom, and then break down.
Note
Disclaimer, i am not shorting. This is purely for obsercational purposes.Note
Observational*. Have a nice day.Note
So price is moving down now. The channel is already relatively old, so i wouldnt be surprised to see it break down soon either.Note
In retrospect, when price is stopped at an awkward point in a channel, it means momentum is going to swing around. At least thats what happened here.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.