ETC/USD - ETC LIKELY TO BREAK OUT
Hello everybody!
Today I stumbled over the ETC/USD chart and saw this lovely Ascending Broadening Channel with an Ascending Channel Inside.
It looks like an easy profit if the market continues upwards for a few days more as minimum.
Bitcoin SV/USD just broke its formation strongly yesterday and it looks like DASH/USD could break its formation today.
The Formations/Lines:
- The big Primary formation is an Ascending Broadening Channel ( Purple lines )
- The Secondary formation is an Ascending Channel ( Orange Lines )
- The green line is Horizontal Resistance Line. If ETC close above it, it is bullish and a sign of a try to break the formation to the upside.
- Where the Purple and Orange lines meet is likely where we will find out what way ETC is going. So within 1-3 days.
- Below the formation, we got 2 lines showing the last Strong Resistance/Support zone for ETC/USD
Indicators/technicals/market:
RSI: Pointing upwards, seems to have found support, if ETC breaks the green line and stays over it we will see the RSI crossing over to the upside. ( bullish )
-Stoch: Pointing downwards inside the "control zone" . If ETC again stay over the green support/resistance line the Stoch will turn up and there is room to grow. ( bullish ) But as it is now it is bearish while under the green line.
- Historical Volatility: Falling, but room to move up, just around the last horizontal point of support. It may likely find support and start expanding. (rating 48ish )
- The general market trend is UP ( bullish ) and can continue like this if the market wants it.
Analysis:
- If ETC stays below the green line for a few days longer it is more likely we see sideways movement for longer time or a Pretty big drop in price. But right now the market is still bullish and ETC has had some days to consolidate so continued sideways movement much longer is not likely. We should everything taken into consideration included the RSI and Stoch indicators see a strong move to the UP side or DOWN side =) The side of the movement depends if the market keeps going up or down I would say. We could get a big pullback on bitcoin and all altcoins really soon based on the BTC indicators and Historical Volatility . But we could also go higher before it happens. But it is loser now than since the 7k bitcoin bottom is also a way to say it.
This is for educational analysis only, This is not financial advice, Nobody can predict the future only optimize our odds.
Have a lovely Bullish Sunday everybody =)
I hope someone finds benefit in my analysis!
Confucius
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My DASH Breakout Idea - ACTIVE
Today I stumbled over the ETC/USD chart and saw this lovely Ascending Broadening Channel with an Ascending Channel Inside.
It looks like an easy profit if the market continues upwards for a few days more as minimum.
Bitcoin SV/USD just broke its formation strongly yesterday and it looks like DASH/USD could break its formation today.
The Formations/Lines:
- The big Primary formation is an Ascending Broadening Channel ( Purple lines )
- The Secondary formation is an Ascending Channel ( Orange Lines )
- The green line is Horizontal Resistance Line. If ETC close above it, it is bullish and a sign of a try to break the formation to the upside.
- Where the Purple and Orange lines meet is likely where we will find out what way ETC is going. So within 1-3 days.
- Below the formation, we got 2 lines showing the last Strong Resistance/Support zone for ETC/USD
Indicators/technicals/market:
RSI: Pointing upwards, seems to have found support, if ETC breaks the green line and stays over it we will see the RSI crossing over to the upside. ( bullish )
-Stoch: Pointing downwards inside the "control zone" . If ETC again stay over the green support/resistance line the Stoch will turn up and there is room to grow. ( bullish ) But as it is now it is bearish while under the green line.
- Historical Volatility: Falling, but room to move up, just around the last horizontal point of support. It may likely find support and start expanding. (rating 48ish )
- The general market trend is UP ( bullish ) and can continue like this if the market wants it.
Analysis:
- If ETC stays below the green line for a few days longer it is more likely we see sideways movement for longer time or a Pretty big drop in price. But right now the market is still bullish and ETC has had some days to consolidate so continued sideways movement much longer is not likely. We should everything taken into consideration included the RSI and Stoch indicators see a strong move to the UP side or DOWN side =) The side of the movement depends if the market keeps going up or down I would say. We could get a big pullback on bitcoin and all altcoins really soon based on the BTC indicators and Historical Volatility . But we could also go higher before it happens. But it is loser now than since the 7k bitcoin bottom is also a way to say it.
This is for educational analysis only, This is not financial advice, Nobody can predict the future only optimize our odds.
Have a lovely Bullish Sunday everybody =)
I hope someone finds benefit in my analysis!
Confucius
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
My DASH Breakout Idea - ACTIVE
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