ETC-USD start going up from here or head down to 13$ ?

the action of ETC is at the resistance line pink will be important. It will tell us where ETC will head to
Sell signal on 1 day chart is still valid
Buy signal on lower timeframe and indeed we have moved up today

if etc can't break the downtrend resistance, we will have a potential Head and shoulder with a target to 13$
if etc breaks it, we will make New high

What should we do now ? Do nothing, wait until etc reaches the resistance to see where it is going to head and be ready :)

Note: this post is for discussion purpose only
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im leaning to the drop to 13$ :)

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a broaden view. We are in big symmetric triangle. So it is reasonable to see a test to lower trendline. Im expecting either Monday or Tuesday giving us the answer

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in addition, 13$ will match with the possible of retracement of btc to 6.8k

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Buy signal is fired on 1D chart. Very interesting to watch what will happen to downtrend line now.

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so we choose the most confusing path which is SIDEWAY :)
this is the bear flag to observe

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break down the flag and is testing the resistance line. the path to 13$ is become clearer:)

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need to break 15.6$ to confirm further down move

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13$ target is still likely. Head and shoulder have had better shape. Just need for a break down confirmation

why do i still think 13$ is possible ? it is possible because if btc keeps rising like this, alts will continue on bleeding like right now. So if btc can reach 10k$, 13$ is a doable target for etc

of course everything is just possible :)

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by observing the way of etc's recovery, i think the 15.9$ can't be broken and we will go up from there

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so the head and shoulder might be valid

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*invalid I mean:)

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etc moves slowly like a turtle . However this is the channel it is following

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moving inside channel but stop at the downtrend line. 2 possible scene:
1. go down again to retest support line , then move up and break the downtrend line and go higher
2. pullback little then start breaking the downtrend line to go up further

these 2 scenes all depended how btc will move :)

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move very slowlly. However all indicators especially MACD are very bullish. The crosses on MACD for long timeframe are going to happen soon

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up party is coming :). Be ready

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something is cooking up on ETC. Btc drops but it doesn't drop much. Patiently waiting for it to break the downtrend line

ปิดการเทรด ด้วยตนเอง:

forgot to close this post :). Not a good time to stay in any alts with btc's dump

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Update: descending triangle has finally broken down. Look like a path to 13$ is the way to go. It is advisable not to hold ETC right now (same for other alts)

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lol at ETC, coinbase will list it on August 7th. The reason of the sudden pump