Ethereum Classic (ETC) Bearish Divergence, drop likely.
Updated
ETC has been on my watchlist for a while, and recently closed my position in anticipation for the sell-off after a 2.4% gain.
Trade can be found here
Due to the bearish divergence on the RSI, it is very possible ETC will drop, so this could be a good short position.
How to trade:
Buy in: On or above the white trendline
Sell Target
Around 2169 if this idea plays out like last time.
if we break above, this will be invalidated and a long position might be a good idea. I think it's going to drop, however.
Thanks for viewing! Please leave any comments in the section below. I will respond to all of them.
Trade can be found here
Due to the bearish divergence on the RSI, it is very possible ETC will drop, so this could be a good short position.
How to trade:
Buy in: On or above the white trendline
Sell Target
Around 2169 if this idea plays out like last time.
if we break above, this will be invalidated and a long position might be a good idea. I think it's going to drop, however.
Thanks for viewing! Please leave any comments in the section below. I will respond to all of them.
Note
This would be the idea long scenario.
Note
If this closes below, bearish will probably happen
Note
This is my ideal buy in position. If it drops below would seem like etc is more bearish.
Note
Added 10% of my position right here.
Note
50% at 207450% at 2065
Stop loss is market and manual.
Note
First sign of support here.
Trade closed: target reached
Closed 50% at 1.35%Trade closed: target reached
Closed 25% at 2103Trade closed: target reached
Final 25% at 2125Note
If i didn't ladder sells, would have been over 2%. No regrets though. Better safe than sorry.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.