ETCUSD - Trying to be bullish but can't
Updated
Decending triangle, double top, death cross and close to breaking broad (medium term) support zone. All bearish signs - it doesn't look good for ETC.
However, the broader market is down so it can be expected. It is well and truly oversold and with an air drop coming up it is possible that ETC could turn the corner in the coming days. Look to see if it can break out of the support with some bullish green candles and some decent volume. If that happens there is a chance of recovery.
Too hard to call for me right now. I want to be bullish but I'm struggling.
I'll wait to see if it falls below support zone and provide further updates. One would think it can't go much lower. There is another, possible stronger, support zone coming up at around $18.70. Might be a good buy-in.
However, the broader market is down so it can be expected. It is well and truly oversold and with an air drop coming up it is possible that ETC could turn the corner in the coming days. Look to see if it can break out of the support with some bullish green candles and some decent volume. If that happens there is a chance of recovery.
Too hard to call for me right now. I want to be bullish but I'm struggling.
I'll wait to see if it falls below support zone and provide further updates. One would think it can't go much lower. There is another, possible stronger, support zone coming up at around $18.70. Might be a good buy-in.
Note
With next support zone addedNote
Well ETC hit the lower support zone as anticipated, and it has since bounced off. If you like the coin and are bullish based on the upcoming march air drop then there might be an opportunity coming up to buy in buy in.ETC may drop to between 18c and 20c which presents good value for those looking to secure before air drop.
Note
Here's my logic for the small drop - head and shoulders setting up-Note
CORRECTION - may drop to between 19.5 and 20.7Note
ETC found the 18.8 support zone, if that doesn't hold I'll be surprised, but again it depends on the broader market. If I were a betting man I'd think about buying in based on the upcoming March airdrop I'd say it's good chance it will be higher then. But this is TA so I won't be betting on anthing, just following the charts and I don't see the TA upside.Order cancelled
Idea no longer valid, trade cancelledNote
I mean no trade entered
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