ETC/USD - Double bottom and UP. End of correction highly possibl

Apparently ETC wanted to test the previous bottom from 22th of February and decided "ok that's it we're going back". I still strongly advice to enter above green line but if you want to do it know remember about the stop loss "dotted red line".

Commentaire:

Looks like no narrowing triangle, no double bottom, but FIBO as almost always. 50% retracement is magical border and has psychological reasons: we have often that feeling that after half of the way everything goes faster. Same thing is going on with charts - after crossing 50% of price movement it will most of the time fall to at least 61.8% fibo (which is very common). However we bounced from this certain point so there is still a hope. If you want to enter now instead above the green line, set up stop loss on about $27.6.