virufx

ETCUSD possible retracement

BITFINEX:ETCUSD   以太坊经典/美元
We are in a bullish market in cryptos but some of them are already starting to show some signals of an overbought market as it is the case for ETC. So I think that there will be room for a retracement on ETC before it continues going up. Here is my Idea, as $20 is a rounded number we can start to consider it as the Resistance zone but there's a previous High around $23, so instead of a price line, I have decided to trace a range of resistance and same for the possible support level which is around $15 zone based on previous market consolidation levels.

We are too anticipated to it so We need to wait for the price to reach our target zone and check for the momentum to agree with us, otherwise, this idea will be irrelevant if momentum keeps getting stronger. If we decide to be conservative, it's recommended to wait for the retracement to take place, then we can enter Long looking for a higher goal.
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