ETCBTC - Falling Wedge Signal + Kumo Cloud
Updated
Long-entry signal based in 1hr time-frame and Ichimoku Cloud do not show entry- signal yet; however, lower time-frame (15min) shows entry for those whom are in a hurry.
For divergences and other possibilities, there is bellow another study regarding to that:
For divergences and other possibilities, there is bellow another study regarding to that:
Note
[URL=s18.photobucket.com/user/luliboy/media/Stock Market/Kraken_ETCBTC_20170529_zpsyv2wrp7c.png.html][IMG]i18.photobucket.com/albums/b140/luliboy/Stock Market/Kraken_ETCBTC_20170529_zpsyv2wrp7c.png[/IMG][/URL]Due to formation of bearish twisted cloud and lagging span be situated below price on 1hr time-frame, this information based on Ichimoku Cloud removes any possibility to entry in this asset specially for long-term.
So, let's be patience and wait for another entry opportunity =)
Note
Due to formation of bearish twisted cloud and lagging span be situated below price on 1hr time-frame, this information based on Ichimoku Cloud removes any possibility to entry in this asset specially for long-term.
So, let's be patience and wait for another entry opportunity =)
PS.: Sorry for the mess above, lol.
Note
Almost one month has been passed since the last update about ETCBTC. So, here it is glimpse from it:Based on 4HRs time-frame to take longer position, the crossing between Tenkan over Kijun was the entry point with stop-loss at kumo or if Kijun recross over Tenkan, which it could show probability of bearish trend. However, until this post, it did no happen.
It is possible to see look at the volume that we are in accumulation phase inside of the blue Descending Triangle, which coming respecting previous higher, by the way.
It is reasonable to say that while Bitcoin keeps stable, I do believe that ETC will keep reach higher levels!
Note
Over the past few days BTC was (and still) a little bit unstable, which could made ETC drop its price; but, ater ~3 days accumulating we just had a nice optimistic candle on 4HRs time-frame with spike volume!
Based on cloud, 4HRs time-frame do not indicate long-entry signal yet; however, when entry signal confirms, target at 1.272% Fib. retracement is a possible target.
Based on divergences, which precedes an accumulation zone, both MACD and RSI are indication bullish trend. Let's expect that support on EMA 50 hold price and keep its trend bullish towards Moon =D
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