ETC is in a Classic Flat Correction
SUMMARY
After five impulse waves up, ETC has been correcting in a flat abc fashion as shown and marked in below chart. Elliott Waves states that the C wave of an abc always has five subwaves. The red waves i,ii,iii,iv are shown to be complete while wave v is likely still to be. Now there is a scenario that shows a bottom could be in and the price could swing to a renewed impulse move upwards. Until wave evidence of that occurs, my model shows that wave v remains to be.
ETC/BTC is trying to fashion out a WXYXZ complex pattern with the last Z as a potential triangle. Such terminal pattern is not rare and for cryptos, more common than in equities. This correction was preceded by a rounded bottom and the handle portion was composed of the wxy waves. So, IF the Z wave is complete or is about to; then a breakout would be needed to confirm. Let's see how the overnight price moves.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
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ETC will have an Airdrop coming in early March. That could help with the price. I wrote a post about it...
ETC is having a nice movement up now. Let’s see if it can continue moving upward
ETC ETC ETC ETC
just hodl ;)
apparently the fall is over and it was just as you said it came to 6k bitcoin and started to go up, you are a genius greetings
its not over until it breaks the upper resistance. I have explained this to so many people on cryptocompare that called names and called people fudders for making people aware. Last time when it went from 7500 to 9500 or so. Then what happened it when everyone said 7500 was the bottom? drop to 6k. I think once we go above 10k we can call it a reversal.
I agree with you. We aren't out of the woods yet. But longer term I am still bullish BTC
The scenario of the larger ABC is still in play.
Bitcoin is amazing and workable currency in the world
Bitcoin is crippled and plague by high fees and congestion and the Lightning Network won't help.
The mempool shows quicker and cheaper transactions
Hi Haegin, could you do VEN please
The best has yet to come! :)
I very much appreciate your posts. Thanks for your efforts and hardwork.
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