For the past few months, ETCBTC has been on accumulation. With the big airdrop coming soon, I expect some movement after CNY.
There are two scenarios: 1) a low volume scenario with a weak breakout and 2) a high volume scenario where it will test a weekly level.
In the first case, I will buy on a retest of the weekly level (0.003).
In the second case, I will just market buy a confirmation candle on 0.00164. ETCBTC has hit that level twich in the past 4 months with an acceleration upwards.
There are two scenarios: 1) a low volume scenario with a weak breakout and 2) a high volume scenario where it will test a weekly level.
In the first case, I will buy on a retest of the weekly level (0.003).
In the second case, I will just market buy a confirmation candle on 0.00164. ETCBTC has hit that level twich in the past 4 months with an acceleration upwards.
Comment:
Scenario 1 is now in play. Let's wait for the retest.
Comment:
ETC has retraced back to the daily level. Either wait for a good reversal first in the hourly or if the retracement volume is high, look to re-enter around 0.0030
