ETC/USD - Cup and Handle

Upon finding this cup and handle pattern it reminded me of a brilliant idea by www.tradingview.com/u/pixi/

The graphics are just for a bit of fun :) but this is the structure I'm currently watching for ETC/USD.

Less than 24 hours ago I posted my view on the 1h timeframe featuring an ascending channel (chart is shown below).

This provides us with an excellent scope on future price direction, which I will use to my advantage for an ideal entry point.

In addition to all of the above, price has formed a valid bearish bat pattern on the daily timeframe (chart is shown below).

This correlates with the cup and handle pattern as it indicates a move lower before we breakout of the $3 range.

I've got plenty more analysis on the way, keep supporting my ideas and don't forget to add me on social media!

Commentaire:

The handle is now starting to form as price is trading within a small descending channel on the 30m chart.

Expecting further declines before a big move up!

Commentaire:

Ethereum Classic is now showing signs of a move up, especially after another test of the trendline.

I'm expecting a temporary drop to around 2.48 followed by an increase to re-test the trendline, we may see a breakout occur once this happens.

Commentaire:

One final pullback before the big move up!!!

Commentaire:

Although the analysis appeared like it was just for fun, this was a satisfying prediction.

I'm expecting the momentum to continue!

Trade fermée: cible de profit atteinte:

Big move up indeed :)