ETC ETC what u gonna do? Possible scenarios before airdrop.
Updated
We ALL know that there will be a free airdrop of a new token on 05.03.2018. We ALL know the market, the price will jump up before that day. Right?
Everyone wants to know what will happen. First of all we have to consider whats goin on with BTC. BTC dominance its 40% right now, most people are waiting. There was a try for ETC's uptrend today but BTC had the same idea. BTC goes up, ETC goes down - uptrend was gone. The 100MA/4H (white line) was a perfect support till today.... whats next?
Here are my 3 scenarios:
1. We are hovering on channel support right now. If it holds, price can go up.
2. ETC will drop off channel support. There is big support on the green zone as it was tested few times before.
3. The last support is a whole uptrend channel support.
What do You think?
Everyone wants to know what will happen. First of all we have to consider whats goin on with BTC. BTC dominance its 40% right now, most people are waiting. There was a try for ETC's uptrend today but BTC had the same idea. BTC goes up, ETC goes down - uptrend was gone. The 100MA/4H (white line) was a perfect support till today.... whats next?
Here are my 3 scenarios:
1. We are hovering on channel support right now. If it holds, price can go up.
2. ETC will drop off channel support. There is big support on the green zone as it was tested few times before.
3. The last support is a whole uptrend channel support.
What do You think?
Note
Lets get a closer look on this coin. As u noticed our 2nd support worked great but... we are still downtrending. We've got a few things to consider:
If support breaks becomes a resistance. Thats why our 1st support is now a resistance.
55EMA/30min works as a resistance as well, look at those rejections (yellow arrows).
RSI looks much more better, we've got some uptrending channel out there (green line on RSI). If it wont break - we can have an uptrend.
Still... im neutral on ETC for now.
Note
One picture is better than 1000 words.Note
As expected, lots of resistance, RSI broke. Lets wait for a new bottom.Note
A new support have been found. Watch out for BTC rally, BTC dominance is growing - 40.7% right now.Note
Our temporary support was broken. We are heading for channel support to see whats gonna happen out there. 4H RSI says that ETC is extremaly oversold. Last time it was oversold like that in the beginning of december so be carefully - i wont buy it without confirmation of uptrend. Note
Few hours ago ETC started to bouce on the last support line but then BTC's extreme rally begun... BTC goest extremely up, Alts go extremele down. We lost our support. I've not seen so oversold RSI in a long time.I'll be honest with You - on this support i got in and i had to stop loss. We've got 2 days to airdrop but altcoin market is sounptredictable... We'll see what will happen but as i said that in almost every update... beware of BTC!
Note
ETC recovers from the ashes but dont get trapped. There are plenty of resistance points on the way up. The crucial for me is that 55MA/30min that i mentioned before. Trade closed: stop reached
ETC Team u morons ;) I wont be updating this idea coz it was only about airdrop.support.bittrex.com/hc/en-us/articles/360001378632
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