ETC on the Daily -- Simple Charts for us Simple Folks!
No magic bullets here. I like the way ETC is trading between resistance at $5.70, and support at the .618 level $4.912. The Primary trend was breached and became resistance. We are now stuck in the range indicated.
We are range bound, for now, as long as we stay above $4.90/$5.00 area, I feel comfortable saying we are being accumulated and preparing to break up and thru resistance at $5.70.
I am accumulating ETC and looking for it to break $5.70 at some point. As with other cryptos, the move will no doubt be explosive.
Outlook: Neutral to Bullish.
My strategy: Buy as close to the $5.00 level as possible. A breach and close of the $5.00 level could indicate a short-term reversal, but that appears unlikely with buyers waiting to jump in at the all import $5.00 area. I would much rather be banging at the door of the $5.70 level, but I'll take what I can get, and if that means we're gonna hang around the $5.00 level then I'll just have to buy a bit more here and there! This is not expensive crypto, so a few hundred dollars here and there I can handle.
ALWAYS REMEMBER TO DOLLAR-COST-AVERAGE INTO THESE HIGH-RISK ASSETS. Seek out the simple straight forward analysis, with simple explanations that make sense and match what YOU see on the chart.
If you enjoy my simple analysis, don't forget to follow me on twitter and benefit from my due diligence and life experience. Remember, I don't just chart for fun, I got skin in the game!
We are range bound, for now, as long as we stay above $4.90/$5.00 area, I feel comfortable saying we are being accumulated and preparing to break up and thru resistance at $5.70.
I am accumulating ETC and looking for it to break $5.70 at some point. As with other cryptos, the move will no doubt be explosive.
Outlook: Neutral to Bullish.
My strategy: Buy as close to the $5.00 level as possible. A breach and close of the $5.00 level could indicate a short-term reversal, but that appears unlikely with buyers waiting to jump in at the all import $5.00 area. I would much rather be banging at the door of the $5.70 level, but I'll take what I can get, and if that means we're gonna hang around the $5.00 level then I'll just have to buy a bit more here and there! This is not expensive crypto, so a few hundred dollars here and there I can handle.
ALWAYS REMEMBER TO DOLLAR-COST-AVERAGE INTO THESE HIGH-RISK ASSETS. Seek out the simple straight forward analysis, with simple explanations that make sense and match what YOU see on the chart.
If you enjoy my simple analysis, don't forget to follow me on twitter and benefit from my due diligence and life experience. Remember, I don't just chart for fun, I got skin in the game!
