ETC Long - Wave 3 has potentially started.
ETC is one of ur favourite tokens. Although it has so far underperformed against other alts, it respects technical analysis to a tee, allowing us to trade it profitably and hold it with clear invalidation points and targets.
We believe we have completed a wave 2 retracement to the 618 where the major 23$ support lies. Now we're looking for a wave 3 expansion which will be confirmed by taking out the 40$ high. We are inclined to believe that this expansion will outperform and reach the 2.618 as opposed to the 1.272 or 1.618.
Moreover, this looks to be a major wave count that could truly bring ETC well OVER 100$ potentially to the 786 high to low and maybe even to ATH.
However, if you know us then you know we play it level by level and that's what we are doing here also. First target 40-45$, invalidation point would be the break of the 23$ support which in our opinion is the most important level on the chart.
We believe we have completed a wave 2 retracement to the 618 where the major 23$ support lies. Now we're looking for a wave 3 expansion which will be confirmed by taking out the 40$ high. We are inclined to believe that this expansion will outperform and reach the 2.618 as opposed to the 1.272 or 1.618.
Moreover, this looks to be a major wave count that could truly bring ETC well OVER 100$ potentially to the 786 high to low and maybe even to ATH.
However, if you know us then you know we play it level by level and that's what we are doing here also. First target 40-45$, invalidation point would be the break of the 23$ support which in our opinion is the most important level on the chart.
Note
The 618 didn't hold but we retraced to the 886, long term targets still hold and local accumulation is ongoing. Strategise easily like in the last posted trades
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