The last few months ETC had outperformed BTC very clearly, showing a big interest of certain buyers. OMG has the same, even better picture. ETC had made a big drop the last week, now it has made a bullish wedge, it could drop out below, and crash further, but my guess is that Bitcoin will go up towards 10.000, triggering this wedge of ETC and where it once again outperform BTC. It's a risky trade, because my medium term outlook for the crypto market is bearish, but i just expect another wave up, and this coin provides a very nice opportunity to go long.
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If we zoom in, we can see it already broke out slightly, but there is no volume confirming it. It should break the 22.50 to be convincing it could go to the 26/27
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There you have it, the low volume almost destroying this bullish wedge. It's still above the wedge, but i give it 25% change it will go higher.
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Here is the confirmation, the low volume of the (fake) breakout was predicting this. Volume is not a number, it shows how much conviction there is to go higher
Looks interesting bit will not happens! I was thinking the same, following ETC since 2017 and now 2018 still doing anything so probably it will never happens, is too obvious
botje11
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@ing_israel, They play that game allot, your right about that. It's just to weak, it could not even profit from that wedge, meaning it's extremely weak and will probably go down even further, just like the rest of the market
Doc-al-Citadel
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should have a good 2019/20 imho
botje11
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@qdoc, If the crypto market survives and breaks out, it will most probably be one of the better coins
Doc-al-Citadel
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@botje11, the crypto market will survive, but i don't think ETC will outperform it this year, but it might outperform bitcoin; NOT TRADING ADVICE
botje11
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@qdoc, It's purely based on it's price action the last few months. BUT the last weeks it's been bad, so maybe that outperforming is already over, who knows.