Ethereum Classic, ETC/BTC Ready For a Breakout?
After a retracement of more than 50% from All-Time High Ethereum Classic, ETC/BTC found good support around the 0.001950 area. The RSI and MACD indicators are heading up and showing a divergence around that level as well.
We can still have a little more room before we reach the Apex of the descending triangle but when ETC/BTC breaks the descending triangle to the upside, we could see another leg up in Ethereum Classic.
ETC/BTC just need some catalyst/news and coupled with increasing volume for the next move up. Perhaps the anticipated news about the Beta of Emerald Mobile Wallet and Disable difficulty bomb in April can provide just that.
If you want to trade ETC/BTC, it's best to wait for a little pullback to the support area, price reaches the Apex of the triangle and then breaks out to the upside.
Areas to look at when Trading Ethereum Classic, ETC/BTC:
Buy Area:
0.001950 - 0.001980
Profit Targets:
1. 0.002172
2. 0.002270
3. 0.002362
Stop Loss:
0.001895
If you like the analyses, give a like or share it. Even if it's just for good karma ;)
Or let me know if you have any questions.
And until next time, good luck with your trading!
We can still have a little more room before we reach the Apex of the descending triangle but when ETC/BTC breaks the descending triangle to the upside, we could see another leg up in Ethereum Classic.
ETC/BTC just need some catalyst/news and coupled with increasing volume for the next move up. Perhaps the anticipated news about the Beta of Emerald Mobile Wallet and Disable difficulty bomb in April can provide just that.
If you want to trade ETC/BTC, it's best to wait for a little pullback to the support area, price reaches the Apex of the triangle and then breaks out to the upside.
Areas to look at when Trading Ethereum Classic, ETC/BTC:
Buy Area:
0.001950 - 0.001980
Profit Targets:
1. 0.002172
2. 0.002270
3. 0.002362
Stop Loss:
0.001895
If you like the analyses, give a like or share it. Even if it's just for good karma ;)
Or let me know if you have any questions.
And until next time, good luck with your trading!
Trade active
First target reached on wednesday april 18. Congrats if you took the trade. ETC/BTC is picking up steam at the moment so if you like, you can still hop on cause ETC/BTC still has enough room for growth. Don't forget to adjust your stop accordingly though.
Next target(s):
1) 0.002270
2) 0.002362
Good luck!
Trade active
Second target reached as well on Friday april 20. 3rd target 0.002362 is now in reach. If the market condition stays good, then expect ECT to move up some more.
So if you haven't already, take some profits so you can wait patiently for the next runup.
Good luck and happy trading!
Trade active
ETC is trying to break out again: You can enter now or at break of the flag if you haven't already.
Note
Targets reached @ april 24. Enjoy your profits!Trade closed: target reached
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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.
Disclaimer
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.