2019-12-07 2018-04-03 Analysis for ETCUSD: reversal signals 03.04.2018 Mikhail Hypov 2019-12-072018-04-03

Ethereum Classic sends the first reversal signals! Where to buy and where to sell? Let’s try to find out...

In this post I apply: trend analysis, key levels analysis, volume analysis, Ichimoku, TD Sequential.

Dear friends,

I would like to share an idea for trading Ethereum Classic.







The matter is that ETC has been trading in the channel for a long time. The lower channel border is a strong resistance level.

With the descending to this line, selling volume was significantly decreasing, which indicates general bears’ weakness for now.

This tendency is clearly seen in the chart of short and long positions opened.



Besides, oscillators indicate a very strong divergence in the daily chart.





ATR volatility index is close to the lower border (see the chart above)

There is also divergence in the shorter timeframes, which confirms the general reversal signal.

If we analyze the candlesticks order according to DeMark’s strategy, we will also see the reversal signs in the daily chart.





In the chart above, we see Buy Countdown, complete in early April.

Today, we can expect Buy Price flip and the start of new Setup that can well reach at least the first TDST level, 16.256.

If the future Setup consolidates above this level, then, there is a direct way to 19.675, where there is the next strong level for TDST.

Finally, the trading idea is:

BUY at 14.70

10% of the deposit

SL below 13.90

TP1 = 16.25

TP2 = 19.50

I wish you good luck and good profits!

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Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

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