ETCG trade ideas
Grayscale Eth Classic, 48 next up, 39 pullback possibleIf you have a small position in this fund, you have already seen some decent gains. This is an area to test and confirm as support though we are coming up to September and need to be ready for a pullback. I have a very small position here, so have my stop loss inching up and will take the profit and miss out on a quick recovery (though usually Eth Classic and Bitcoin Cash do not recover quickly in my experience).
Optional Soap box :-) that kept me from earning big gains last year: People are snobby about their favorite crypto - and they downplay their least favorite. To me, profit is profit. I don't care. Ethereum Classic and Bitcoin Cash are two often maligned projects and maybe reasonably so, but they do offer some opportunity as they are usually 'subsequent movers' meaning when the market moves up, then they move up - so if you miss a short term push you can usually jump into these and make some money. The timing is a bit weird as they may just sit there for a moment or not.
All of this IMHO of course. Not financial advice. Just be ready to book your profits on a pullback.
Comparison of what could be if BCHG follows ETCG path. Please Bitcoin, cooperate so BCHG can follow through with some insane price action.
ETCG about to run higher with ETHEETCG about to run higher with ETHE
this old trick still works.
Folks get Ethereum and Ethereum classic confused and this spills over into the Grayscale Ethereum trust market as well as you can see.
This seem inversely corelated to SQQQ so looks like we are going to take a rest if not a dip.
I will capture my gains and circle back in 10 days.
looks like Alt season is getting goinglooks like Alt season is getting going
and maybe ETCG is old hat but it can't ignore the rising tide that will lift this boat. dip to 12 or 11 please before taking off with out me.
Grayscale ETH Classic near term price targetFor those who got in below 10$ congrats!
The long term trend line (log scale) shows that should the ETH bullish momentum holds up the near term price target should be around 28.5$ - 30$ (overshooting).
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Barry's TurnWith crypto pumping as a whole and the ETHE & GBTC funds seeing some activity, I think it's time for Barry coin to get some attention. Buy this up at $8 and let it ride to around $40. Good luck.
Ether classic is not really doing well but as altcoins jumpEther classic is not really functioning well but as altcoins jump so will eth classic bringing the grayscale ether product with it.
Grayscale ETCThese are my thoughts on BTC . They are meant to give you an idea, not trading advice.
Some time ago I posted the ETHE chart, and it exploded. I'm kinda starting to think ETC could be next. It's been sitting quiet for a very long time. People lose their interest, and then suddenly it takes off without a warning.
Those who follow this chart can see the warning. It want's too pump.
My guess is this will keep moving between the MA's and use them to climb up to eventually get above the white MA (like ETHE did), which is starting to curl upwards. This could indicate a bottom.
It can take a couple of weeks, but I have a target on this sitting around 30$.
Good luck.
Please be careful, as the market never gives you certainties, only probabilities!
ALWAYS REMEMBER THIS WHEN YOU TRADE
ETCGBeen trading in a range almost its entire life between 6 and 13. Also been a couple massive upside deviations. Worth a shot at the bottom of the range.
ETCG Now officially bullishJumped up above two trend lines this morning (they form a yellow X). Volume is big. Nice W market structure at the bottom. Good to at least the longer term trend line at $17.00. Crypto is catching fire. Here is one way to get some exposure to it.
ETCG breakout a long time comingWas gonna publish this sloppy chart a few days ago and go a little heavier on it myself but its probably still worth buying the breakout with a close stop. Only grayscale fund to not go full batshit yet
ETCG braking out ?ETCG braking out ?
After a long pitiod of pain Eth classic might be turning around.
I like the new CEO, she seems smart.
I don't think I have called a break out so far in advance before - too bad I did not make the trade my chart told me to make. But it still feels good to be right regardless of gains.
Grayscale ETH Classic is pushed this way and thatGrayscale ETH Classic is pushed this way and that.
It looks like we can bottom out around the $8 level
We should jump to $10 after that and then continue higher.
ETCG fund overshadowed by ETC hackETCG fund overshadowed by ETC hack
WE know this could blow over and it will pop up any day now.
BUT
I will nibble around $9 til the inevitable break out.
Hopefully this happens before Sept 18th but i can wait.
ETCG will move higher soon not sure when but soon50 day 100 day and 200 day
For the first time
all three moving averages have converged.
For the first time - something is going to happen!
With the entire Crypto market cap climbing
over the last few months I think we go up from here
Look at the RSI it should be lower but sometimes we have such strength the price just moves higher.
Update ETCG chart - RSI bottoming outUpdate ETCG chart - RSI bottoming out- get in at 10 or 9 or 8 - The absolute bottom would be 7 or 6 but that would be only if Bitcoin had another major crash.
ETCG vs ETC, divergent performance, volatility, gainsDuring the last bull run in May and June last year, ETCG, the OTC fund, performed around 4.8 X the high price of the cryptocurrency ETC, Ethereum Classic, which it tracks. This was bewilderingly high performance.
ETCG went on to abruptly lose almost all of this value before Ethereum Classic even truly began its deflation from its high. ETCG is very volatile.
A couple of things to note from this chart:
1. ETC is now leading ETCG in growth - this will probably reverse in the coming weeks/months
2. Beware the sharp moves - ETCG makes big moves both ways and it doesn't stay up for long - don't be caught holding the bag!
3. On a short time frame (today) there is an example of #2 above - note ETCG moved 21.7% from close to high. ETC only 10.6% close to high.
I'll be honest, I'm coming back onto the charts from a series of massive losses in Bitcoin, Ethereum Classic, and other digital assets. But I told myself I would only post something positive if I'm in at least a 3 winning streak. My last 3 trades qualified, so I'll go ahead and say I managed 17% gain today on 2 trades across my account in ETCG. ETCG can deliver losses and gains so watch it.
Always do your own research before making any buying choices. The intuitive aspect of trading is huge.
And Enjoy!
ETCG ReboundEthereum Classic and its Wall Street cousin ETCG led BTC by a few weeks in the bull market and also corrected a couple weeks sooner. Seeing a higher low on the 5 RSI and dissipating downward momentum on the MACD with the averages looking like they’re about to cross leads me to believe ETC/ETCG will come out of the correction/consolidation ahead of BTC.
Nothing but good news about this project and I don’t think Grayscale is in the business of creating exchange traded products for just anything.
Upcoming upgrades to ETC along with the Metronome project to give it interoperability with the ETH blockchain bode well for its future performance.
This breaks my trade rules but I’m getting into this for an intermediate position…not a swing trade. A 71% retracement and bottomed out MACD are pretty harsh, but nothing says it can’t come down more. That’s why I’m scaling into ETCG with quarter-sized buys each week while it’s under $20.
Not financial advice. If you have anything to add on ETC please leave it in the comments.
Dorsey On Ether (15% Rise In 1 Day)Dorsey on Ether: 7/8/2019
This was sent out to members yesterday. We are going to be diversifying our reports and adding certain sectors/etf instead of just covering the SPX. We did our first one yesterday and the timing was perfect, as etcg was trading at 21.10 when it was sent and hit a high of 23.70 or an 18% gain in 1 day. Not BAD!!
From Woody Dorsey: I have been watching the Cryptos all along. They are wonderful new market phenomena. Forget about the Big picture. Sure I can opine on that but their utility is that they are trading vehicles. There is a pattern specific to Ethereum which may now be employed. You can see below how far it has retraced and how oversold it became and that it is now turning up. This degree of decline has almost always been an entry area. What you don’t see but I study is the timing pattern which suggests a trading high in early August. That does not rely on any financial crisis or any big rally in Bitcoin. Of course it could infer either or both of those but it does not have to. So, Do not trouble yourself with any Rationales. Conclusion: Buy Ethereum for a swing trade for about a month. Limit prices are always best in this arena. A little goes a long way!
