Ethereum Ready For A Bigger Correction?Hello Traders,
As we also published a bitcoin daily chart, we wanted to share also the ethereum daily chart. We expected ethereum to reach the $396.24. Now, we are expecting a bigger correction as long as it stays below 396.24 (Invalidation level). When it breaks 396.24 we need to readjust our view!
We won’t be surprised when ethereum corrects to the 50% Fibonacci retracement which comes at around 212. Our Intermarket analysis is indicating currently that ethereum has a potential to correct the $0 line, which basically means that it can correct from $0, 38.2% or more.
Obviously, we don’t know whether it makes a bigger correction or not, BUT our intermarket analysis is indicating it, so we won’t take any long position at this stage anymore, as we made good money last month.
We don’t like selling it we will be now on the sideline.
Hope that helps
Cheers
Ethereumclassiclong
ETCUSD 8h: Positive Scenario - 23 > 28 > 35 USD still possible.Imo BTC segwit had less impact on etc than thought. The correction is behind us. The ETC up-trend continues. For all they are long: the uptrend might be still firm, if the resistance (pink-line) will break. So these next steps are possible: 23 to 28 to 35 USD. So I see an buying opportunity for all others at the moment with a short-term target of 22 USD.
Let's see what happens. Happy trading. :-)
Having fun :)ETC rebounce to moon with ether or should we head a bit further down ? In any case bitcoin isn't deceiving so far in the trip to the moon :)
Let's see what's next :) French elections, yeah whatever's going on politically, cryptocurrencies seems to be at another level where only technological news matter, it's up to you ingeneers.
Trade good, trade safe, trade happily :)
Cheers !
Ethereum Classic longEthereum Classic is currently undergoing the end of it's double bottom, indicating a sharp upturn in is incoming. While RSI is testing out its support lines and the MACD is currently falling, this is expected during the end of a double bottom. Using Elliot's correction and impulse wave we can confirm that the first bottom was the beginning of an impulse wave, while the second bottom is illustrating the end of a a current ongoing correction wave. The fibonacci retracement analysis also indicates that both bottoms are in between the 1st (0.382) and 2nd (0.5) possible support zones from the current all-time high.
The analysis illuminates the end of a correction from the all time high, and a highly probable new all-time high starting with the end of the double bottom (which is a current correction from high). The horizontal descending triangle, even though the RSI bottoming and the momentum descending, further supports a sharp upturn will start and eventually pass current highs within the next 12 hours. Conclusion: Go long.
$ETC Long$ETC is following the same pattern as $ETH. $BTC #ETF is denied. Some #Altcoins are showing strengths and momentum. Look at $DASH. So #Altcoin #marketcycle is about to turn around.
So whats up:
*** blue: next 3 week candle
*** purple: current market point
*** green: breakout point
how 2 trade:
+ next 3 week candle will open 2017.03.27
+ so little more sideways
+ RSI should turn around and again near blue line
+ Volume should heat up at that point
_________________________________________________
= clear vol breakout + 3d close over 0.0017 could market turn around and moon is ready!
hit me up if you have any questions. Would love to hear what you think!
PaTo PaTinYo aKa @CRYPTOBANGer