Etherium Classic looking weak
The false break out the top of the rising channel was enough for me to look for shorting opportunities.
This indicates there is greater selling pressure above and now expect a break through the bottom of the rising channel.
This could also coincide with Bitcoin which is at a supply zone and struggling to push higher without volume. Therefore, keep an eye on BTC as it will affect ETC price action.
Initial targets will be the 127% extension, however will refine once smaller time frame patterns emerge for entry.
Confirmation of a sell order would be a break below the trend line. Bearish bias until the market proves otherwise.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
This indicates there is greater selling pressure above and now expect a break through the bottom of the rising channel.
This could also coincide with Bitcoin which is at a supply zone and struggling to push higher without volume. Therefore, keep an eye on BTC as it will affect ETC price action.
Initial targets will be the 127% extension, however will refine once smaller time frame patterns emerge for entry.
Confirmation of a sell order would be a break below the trend line. Bearish bias until the market proves otherwise.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Komentarz:
Smack down!
Komentarz:
Tighten stops if you shorted this, Bitcoin is about to do something crazy,
Komentarz:
Well I was right about Bitcoin and this trade idea (so far) :)
Komentarz:
Keep an eye on bear flag too
Komentarz:
Lock in a free trade and wait for either SL or TP to hit!
Komentarz:
SL hit at Break-even. This was a good trade, hopefully some took partial profits.
Transakcja zamknięta: osiągnięto wyznaczony cel:
Reached the profit target before a sharp reversal.
