ETC/USD Local work.

By SpartaBTC

Updated

Logarithm. Time frame 1 day. Local work.

Line chart.

Secondary trend. Time frame 3 days.

ETC/USD Secondary trend. Downtrend channel. Pivot zones.

Main trend. Time frame 1 week.

ETC/USD Main trend. Channel.

Note

+20% from the 19.279 level to the $22 resistance zone of the secondary downtrend (1.5 years of decline). In the case of a consolidation - a break of the trend.

Note

Local decline to the dynamic uptrend (green) and a V-shaped reversal back. The price is again at the resistance level of 22.026. Breakout is an impulse. If a pullback (not a breakout from the first time), then to the uptrend line and already at a lower %.

Note

The price again approached the resistance 22.026 of the horizontal accumulation channel of 260 days (8.6 months). There may be an exit from the accumulation zone. It is important for the price to consolidate above this resistance (general situation in the market). Then it will be like on the BCH. If there is no consolidation, then consolidation along the uptrend (green), then similarly exit upwards (possibly after the stop loss withdrawal, but it is not necessary).

Note

Trade closed: target reached

Breakthrough of the accumulation channel resistance and achievement of the second local target of percentages on the breakout +46.44% to the level of 32.168. Local pullback. Zone -22-26 $. It is important that the price is held by the market maker above the resistance (mirror level, yellow color) of the accumulation channel for more than 1.5 years 22$

Price above the resistance of the set. Price squeezed into a corner. Local reversal zone:
1) Impulse-exit and continuation of local bowl formation.
2) Re-test- rollback to mirror level, confirmation and further price growth.

Trade active

This cryptocurrency is very interesting for medium-term (ETH pumping) and long-term (cycles). Naturally, such assets (ETC, less liquidity, higher %) cannot show their potential (ETH pumping and holding above 10k for a long time) in the accumulation zone or at the beginning of exit from it (participation phase), but in the distribution zone (cycle highs). Let me remind you that in the last cycle pamp about +3000%). In this instrument something similar will happen again, but of course not now and not in the near future, which is logical. Local targets and logic on the chart.

SpartaBTC

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