So ETC just fell below a support line I drew like 6 hours ago. Looking like a possible breakdown, especially with the FUD circulating in the news. Definitely worth a look though for a possible short.
Highlighted in the yellow circle is where I am going to be looking for action. If the purple support line holds I am definitely placing a long even if its a quick play. However if this line is broken I will ride out my short which is already in profit. Happy trading to you all! Get those gains!
So here I have drawn my own red candle down which is what I expect to happen. As always I have stops in place to protect from a bounce. I have also drawn a channel to show my target for the next bounce. Trying to play both the ups and downs. Let me know what you think.
From the overall trend we have been experiencing it is hard for me to see the Bullish perspective on this chart. Hopefully I'm not being to biased, but I need more confirmations for my outlook to change medium term. Let me know what you all think.
