Ethereum Classic (ETC) Technicals Point To Massive Growth In Upcoming Months

Ethereum Classic (ETC) just fell to a new yearly low in the wake of another market crash. ETC/USD has broken several supports and market structures over the past few weeks. This has happened so often that it almost makes no sense to be looking at the ETC/USD chart right now. Whenever Bitcoin (BTC) takes a fall, most cryptocurrencies have to fall even if it means breaking below a strong support. A support is only strong as long as Bitcoin (BTC) allows it to be. Let’s face it, most people in this market do not believe in other coins. If Bitcoin (BTC) is going down, they are going to sell their altcoins first and Bitcoin (BTC) second.

Now, we may not be able to tell whether the price is going to break or hold a certain support but the buying and selling patterns over the past provide us with even more useful insights to base investment decisions around. If we look at the above weekly chart for ETCUSDLongs, we can see a large bull flag that would result in a strong breakout anytime…

Read Full Story : Crypto Daily™

2018-12-07 22:30:00

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