Ethereum Classic ETC - Update from my previous analysis -
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Hello traders,
Here is a quick update for ETC Ethereum Classic. Please also check out my older analysis of ETC. The trend line at around 100 USD is very important. If ETC drops further then I am bearish below the 80 USD level.
Everything depends on Bitcoin now. Do we get a sharp drop then the ALTS go down by a factor 5 more but if Bitcoin goes sideways again like the last 2 months then we can probably get another boost in the ALTS. Bitcoin dominance remains the most important thing right now for the ALTS.
Dear traders, this is my own personal view of Bitcoin and not an investment advice. Always use your money management and a good stop loss before placing any trade! This way you stay in this game!
Have fun and trade safely!
If you appreciate my posts, it would be nice to follow and like me! It motivates me to continue with these analyses!
Here is a quick update for ETC Ethereum Classic. Please also check out my older analysis of ETC. The trend line at around 100 USD is very important. If ETC drops further then I am bearish below the 80 USD level.
Everything depends on Bitcoin now. Do we get a sharp drop then the ALTS go down by a factor 5 more but if Bitcoin goes sideways again like the last 2 months then we can probably get another boost in the ALTS. Bitcoin dominance remains the most important thing right now for the ALTS.
Dear traders, this is my own personal view of Bitcoin and not an investment advice. Always use your money management and a good stop loss before placing any trade! This way you stay in this game!
Have fun and trade safely!
If you appreciate my posts, it would be nice to follow and like me! It motivates me to continue with these analyses!
Nota
Traders so far the 80 USD level is still holding. It is a crucial support here.Nota
If Ethereum Classic cannot hold the 80 level than we are going deeper in the down ward trendchannel and it make the recovery less likely. The 50% fib level is an important level and below we have the 61,8%. After that higher chances that it will not recover soon anymore.Nota
Hello traders, here a short update for Ethereum Classic. ETC is at the top of the downward channel and the 80 level did hold for now because it is a very important support level.Watch for good volume on outbreak and place stops on last low. You can also wait for a re-test but that is of course personal trading style.
If you use the 1% money management rule. So you risk max 1% of your funds on each trade you will stay in the game also next year.
Trading with leverage and no tight stops then you have the possibility of getting whiped out in volatile markets.
Then you have news like Elon did for DOGE and Bitcoin. That has also ahuge impact. If you have stops in place you are always protected and you know the risk before you trade :-)
Happy trading guys!
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