ETC continuation play
ETC had a major run up from ~30 to ~150 and has formed a bullflag pattern on the 4hr chart, (or falling channel )
The price has held $95-100 before and if it holds again, which it seems like it will, could form a double bottom pattern
The RSI has returned to levels that are lower than the previous runup, which indicates a strong bullish divergence
The awesome oscillator has also gone to a new low point which is further indication that a second runup is about to come.
Previous resistance gives an initial price target of ~150
A simple duplication of the prior run up gives a final price target of ~ 220-230
Fibonacci extensions point to ~260, seems unlikely though
PT 1: $150
PT 2: $220
Moon: $260
Buypoint and confirmation of bullish trade would be a bounce of 98-100 support
However, if it breaks and holds below $95 it could go lower
The price has held $95-100 before and if it holds again, which it seems like it will, could form a double bottom pattern
The RSI has returned to levels that are lower than the previous runup, which indicates a strong bullish divergence
The awesome oscillator has also gone to a new low point which is further indication that a second runup is about to come.
Previous resistance gives an initial price target of ~150
A simple duplication of the prior run up gives a final price target of ~ 220-230
Fibonacci extensions point to ~260, seems unlikely though
PT 1: $150
PT 2: $220
Moon: $260
Buypoint and confirmation of bullish trade would be a bounce of 98-100 support
However, if it breaks and holds below $95 it could go lower
כתב ויתור
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