ETC short idea. I have a short already on this and I think I will add to it if this plays out like I think it could. If you zoom out on this you can see it is in a downward trend, I thought lastweek it was going to take off but looking at it play out it is just working its way down staying in a big downtrend.
$15.50 would be the area I would look to sell, keeping a close eye on it is following BTC closly. Zoom out on BTC and you see it too is in a downward trend and has broken historical supports. Heading lower just taking its time and giving us false hope of bull markets.
Big Picture View
This is very BTC dependant. Look at how closly these two move. Almost in sync.
EOS is gonna be the same for me, going to look to short from $8.80ish.
$15.50 would be the area I would look to sell, keeping a close eye on it is following BTC closly. Zoom out on BTC and you see it too is in a downward trend and has broken historical supports. Heading lower just taking its time and giving us false hope of bull markets.
Big Picture View
This is very BTC dependant. Look at how closly these two move. Almost in sync.
EOS is gonna be the same for me, going to look to short from $8.80ish.
Note
Im done with this one. BTC has went down a good bit last while, and keeps doing it and this is hovering around the same price. Reckon I was a month too late. I got out of it today. Would not be shorting from here at all.Note
Have been watching some wave trading videos and looking at charts. Looked at this today and if you look at the weekly it looks interesting.
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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.