jwilli15
Long

Ethereum Classic 100%+ Potential in the Short Term

POLONIEX:ETCBTC   Ethereum Classic / Bitcoin
Over the last 30 or so days, I have had a love-hate relationship with ETC because I have not been able to stay committed to a long-term position. I originally held a position then sold at 25 sats             and sold the remaining portion at 20 sats             to seek over more profitable opportunities. Since then, 19 days ago I legged in at 19 sats             only to sell a day later at 18 sats             . There were a lot of coins moving around that time and I wanted to use that capital for other trades.

By the looks of the ETH move relative to ETC's performance alone, one could reason that ETC should expect a move soon. However, we shouldn't base this investment over relative similarities just because ETC is the little brother of ETH.

It's been 30 days or just about since the Mac D had a positive divergence above 0. In that time, BTC             hit an ATH             and ETH hit an ATH             but ETC has just been consolidating and picking up bag holders as evidence by the stronger volume over the last few weeks. Luckily for us, ETC hasn't quite moved and so I expect a significant move to follow the current trend.

Since the ATH             ( BTC             ratio) of ETC, we have retraced 100% of the initial move according to the fib analysis. It looks like we have short-term resistance at 25 sats             (as shown by the pink horizontal line), then again 28 sats             .

I legged back into ETC at 23 sats             and expect us to go at least 100% from here over the next two months.
Kommentar: After some chop to end last week and some early morning panic sellers on Monday, January 8th, ETC looks to be settling in. I went ahead and bought more around .0023 and will continue to add on any pull backs below .0023, but I wanted to make sure I was fully positioned before the train takes off.
Kommentar: I am expecting us to hold the blue trend line, then continue up from there. I increased my ETC position to a full size and will look to add on any breakouts from here.
Kommentar: There's a possibility that we are headed for the thick light blue line before finding the momentum to break the dotted green.

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