Ethereum Classic (ETCUSD) 4hr tf analysis
My previous post on Ethereum Classic can be found here
It was mentioned in the post that Ethereum Classic was in a minor wave 5 position and more selling was to follow to complete minor wave 5.
Ethereum Classic is identified in this analysis as having completed minor wave 5, which also terminates an intermediate wave (C). This implies that Ethereum classic will sustain an upwards momentum and the target area ( ~$20.78 and ~$20.07) set in this analysis is the region of the 4th wave of the previous degree i.e. Minor wave 4.
Point of invalidation (POI) of this analysis (not shown here) is a price close below ~$10.00.
Ethereum Classic is identified in this analysis as having completed minor wave 5, which also terminates an intermediate wave (C). This implies that Ethereum classic will sustain an upwards momentum and the target area ( ~$20.78 and ~$20.07) set in this analysis is the region of the 4th wave of the previous degree i.e. Minor wave 4.
Point of invalidation (POI) of this analysis (not shown here) is a price close below ~$10.00.