Ethereumclassicusd
ETCUSD has formed bullish Shark | Upto 384% big bullish movePreviously I published a post on Ethereum Classic where the ETC was forming a bullish Butterfly and as per prediction after completion the ETC produced more than 270% big gains.
Formation of another harmonic pattern:
This time on again 2 day chart the price action of Ethereum Classic has formed a bullish Shark pattern and entered in potential reversal zone.
Buying And Sell Targets:
The buying and sell targets according to harmonic Shark pattern should be:
Buy between: $4.359 to $2.236
Sell between: $6.413 to $10.837
Stop Loss:
The potential reversal zone area which is up to $2.236 can be used as stop loss in case of complete candle sticks closes below this level.
This idea is for midterm and long term traders not a short term idea; I will be keep posting more trading ideas.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
ETCUSD is forming gartley pattern | A good long opportuntiyAfter successful formation of gartley pattern the price action of Ethereum Classic / US Dollar is forming another gartley pattern and soon it will be entered in potential reversal zone.
This PRZ area can be used as stop loss point in case the complete candle stick closes below this area.
I have used Fibonacci sequence to set the targets:
Buy between: 6.213 to 5.811
Sell between: 6.529 to 7.288
Enjoy your profits and regards,
Atif Akbar (moon333)
Mixed signals from ETC/USDI had posted my primary count for Ethereum classic on the weekly frame earlier, which had it doing a big WXYXZ down.
I'm still holding onto that count but then this wedge breakout has me thinking otherwise. Impulsive indications from this descending wedge breakout is telling us that this might be start of an impulse up afterall. but nothing is for sure. we'll have to wait and watch how the price behaves near the potential top for this move up. Even then it'll be a bit difficult to tell if its an impulse or it'll go for a last leg down to complete a Z wave. Only after it bounces back from the bottom of the potential 2 , we can be sure about the exact count.
However, profit is profit whether its a 1 wave or X wave so i hope most traders out there will make the most out this opportunity.
break above my potential target for this move up would mean that it needs to be recounted.
I have provided the link to my ETC/USD primary below.
This is not a financial advice and just a picture of how i'm looking at it Don't trade on other people opinions.
ETCUSD: All targets achieved. More downside potential.All three 8.500, 8.000 and 7.700 targets have been accomplished after the violent push lower on 1D (RSI = 13.637) that even broke the 1W Falling Wedge formation (STOCHRSI= 0.000, Williams = -95.695). The price reached levels that we haven't seen since May 2017. Right now the monthly SMA100 calls for 3.4325 where MACD = 0.853 may support. Our long term shorting strategy on ETC has been completed here and we will update when we have evidence that its bearish cycle has hit a bottom.
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ETCUSD: Lower Low broken. Expect 8.100.The 1D Channel Down (RSI = 30.854) is extending its decline on a standard bearish pace (Highs/Lows = -0.5356, B/BP = -1.0797), breaking the previous 9.040 Low. If this momentum is correctly capitalized, then the next Lower Low can extend towards 8.000. Even in the event of a break upwards, the 1W Falling Wedge (RSI = 35.465, Highs/Lows = -1.6694) exerts substantial selling pressure below 11.200. Our TP levels remain 8.500, 8.000 and 7.700.
ETCUSD: Channel Down extension. Expect a new Low. Short.ETC is extending the 1D Channel Down (RSI = 43.222, MACD = -0.260, B/BP = -0.1666) and based on its neutral Highs/Lows = 0.0000, it has priced a Lower High. This technically suggests that a Lower Low is imminent and should be on one of our target levels: 8.500, 8.000 and 7.700. Even if it breaks upwards, the 1W Falling Wedge (Highs/Lows = -1.2380) should reject ETCUSD below 11.800.
ETCUSD: Target hit. Expecting a test of the 1W support.TP = 9.505 hit as ETC made a new Lower Low near 9.000 right before it jumped on a fundamental spike just above 11.000, trying the full width of the new 1D Channel Down (MACD = -0.469, Highs/Lows = -0.2671, B/BP = -0.4798). We are still within the 1W Fallling Wedge territory but much closer to its supporting trendline so a test of the 8.500 - 7.700 support array is required to determine the bands. Our new targets for ETCUSD are 8.500, 8.000 and 7.700.
ETCUSD: Two bearish break-out levels to watch.Ethereum Classic is on a declining course on 1D (RSI = 41.548, MACD = -0.212, Highs/Lows = -0.0874, B/BP = -0.3829) with two Channel Down possibilities arising, one more aggressive than then other. If the price is rejected on the next 1D candle, then ETC will follow a more aggressive Channel Down that has the potential to cross even the support of the 1W Falling Wedge at 8.370. If not, it will get a second potential rejection point at 11.180, which if broken will lead to a 1W Lower High near 12.500. Based on this bear cycle's trend, all possibilities should end with a test of a new Low at 8.500. As a result we remain short on ETCUSD with TP = 9.505.
Consolidation almost completed. Expect bearish break-out.The price has been successfully contained below the 0.500 (12.200) Fibonacci level of the previous 14.285 (Lower) High, and as the 4H Rectangle is breaking lower (STOCH = 48.437, Highs/Lows = -0.1522), a new Channel Down is emerging on 1D (MACD = -0.229, B/BP = -0.2809). We remain short on ETCUSD and this should be the trail to hit our TP = 9.505.
Lower High successfully made. Expecting sideways trading.The rebound towards 12.300 was delivered earlier than expected as 4H broke to the upside. On a 1W basis, ETCUSD remains within a Falling Wedge (MACD = -2.444, Highs/Lows = -1.7035, B/BP = -4.4350) but on a 1D basis, we expect sideways trading inside a 10.000 - 12.000 Rectangle (Williams = -48.571, CCI = -22.2787, Highs/Lows = 0.000). Once this consolidation breaks, our TP = 9.5050 will most likely be accomplished.