ETC recently triggered a rally which was stopped in a drastic way on Massacre Monday sending the FIAT value back to support and reset the rally completely.
I am accumulating ETC because I think the latest rally triggered the end of the bear market and we can see support building on a new trend line.
It is very important to not fall down further (bottom yellow line) and start a slow accumulation to the upside from here, otherwise we can await further losses.
We currently see the critical phase of a new trend beeing formed and it is unlikely to establish a bear trend because the downside is exhausted and support was tested multiple times and holded successfully.
We are in Phase D of a Wyckoff Cycle and it will offer significant upside.
Once we can build support in the resistance zone we can advance to Phase E which makes our positions risk free.
Stop loss must be set to 13.70 Euro
I am accumulating ETC because I think the latest rally triggered the end of the bear market and we can see support building on a new trend line.
It is very important to not fall down further (bottom yellow line) and start a slow accumulation to the upside from here, otherwise we can await further losses.
We currently see the critical phase of a new trend beeing formed and it is unlikely to establish a bear trend because the downside is exhausted and support was tested multiple times and holded successfully.
We are in Phase D of a Wyckoff Cycle and it will offer significant upside.
Once we can build support in the resistance zone we can advance to Phase E which makes our positions risk free.
Stop loss must be set to 13.70 Euro