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ETCUSD trade ideas

ETC overvaluedHello, Ethereum classic for some reason i dont understand went up 300% in the recent weeks. The merge of ethereum means that ETC will no longer receive "free upgrades" from the normal Ethereum because the code is no longer the same as ETC keeps proof of work while ETH is going proof of stake. The market thinks this is bullish for ETC, i think its bearish and the price increase is unjustified. Im 1x short on ETC to 10$ (i fear a retest of 44$ thats why im only using 1x leverage, i think its unlikely tho but wanna play it safe) ETC seems to trade in a ascending wedge and we are near resistance. Fundamentals and TA line up, thats why i think this is a good/safe trading setup. DYOR and only invest what you can afford to loose in crypto (also shorts) as i think we are in a bubble.
COINBASE:ETCUSDShort
by Symbio_X
22
ETC - Over-Sold Zone!Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst. ETC is overall bearish trading inside the brown channel, however, it is now approaching the lower brown trendline acting as a non-horizontal support zone . Moreover, the zone 23.0 - 25.0 is a strong support and demand zone. So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support zone and lower brown trendline. (acting as non-horizontal support) As per my trading style: Since ETC is around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...) Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
BINANCE:ETCUSD
by TheSignalyst
23
etc coming down hard etc down about 6.5-7 percent since markets closed at 8pm compared to the rest of the market, it is clear there is a whale selling. could be a fakeout or possibly having a negative reaction to the merge. we could etc come down to test the $30 level, and possibly sub 30 still a lot of new info coming out every hour about etc/ eth merge negative and positive effects, but its clear a big group of people wanted eth to be proof of work based on the pump etc has had since june, but now that the eth is here, we will see very soon if etc will hold and stay relevant as we get further into proof of stake Ethereum
COINBASE:ETCUSD
by WickWatcher
The ETC daily chart has the opportunity to show a H&S bottomThere is a H&S bottom pattern on the ETC daily chart, the target price has been met, and the downtrend line has also been hit. It can be seen in the chart that ETC has appeared three high points near the trend line. If the price falls below 30.35 in the future, the H&S top pattern will be established, and the support range below is 24.47~26.16 and 20.83. After an effective support is formed near the range, and the price breaks through the trend line and 45.75, ETC will have a larger H&S bottom pattern (right picture). - There is also a chance for ETC to break directly above the trendline and 45.75, which would result in a large H&S bottom pattern (right) similar to a small H&S bottom pattern (black box on the left). - No matter which way ETC takes, it is more appropriate to wait for breaking through the resistance of the trend line and 45.75 before viewing ETC as bullish -
COINBASE:ETCUSD
by noah_chen
ETCUSD Channel Down or Bull Flag? See how to trade it!Ethereum Classic (ETCUSD) has been trading within a Channel Down on the medium-term, since the July 29 High. This has come after an enormous and very quick +250% rise on fundamentals, since the July 13 Low. The overall trend since the May 2021 market high has been bearish inside a Channel Down pattern. You can argue that the July 29 High and the Lower Highs that followed broke above the Channel Down, however it is only marginally and have been so far contained with the 1.118 Fibonacci extension, which is within tolerance levels, just like the break below the Channel on the June 18 Low that was contained within the -0.118 Fib. In fact, see how perfectly each of the recent Lower Highs remains on the 1.118 Fib. Since the mid July rally was so aggressive, the Channel Down that followed can be technically viewed as a Bull Flag pattern, preparing a longer-term bullish move. This gets even more significant as the 1D RSI rebounded on a Symmetrical Support level which during this 2021/22 Bear Cycle, always broke lower after but this time it provided a strong rise that broke above its Lower Highs. Furthermore, the 1D MACD just made a new Bullish Cross, the first one on such high values during this Bear Cycle. In addition, the price has already broken 4 times above the 1W MA50 (red trend-line), which on March 29 rejected the rally at that time. Last but not least, we have been trading on the strongest 1D Golden Cross (when the MA50 crosses above the MA200) since December 26 2020! As a result, we could give the bull side a slight edge but only as long as the 1D MA50 (blue trend-line) and especially the 1D MA200 (orange trend-line) hold. In that case we can expect a Flag break-out and test of the 53.000 Resistance which was the previous Lower High of March 29. Above that level, we can confidently claim that the bullish trend has been restored on the long-term. A break (candle close) below the 1D MA200 though, could kick-start a new downward sequence. In that case, a high probability target can be the 0.236 Fibonacci level, which as shown on the chart (circles) was hit on every major bearish leg within this Bear Cycle. -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
BINANCE:ETCUSD
by TradingShot
1