ETCUSD Ethereum Classic point of no return 08-17-2017

17. Aug. 2017

ETC is working it's way into the point of triangle or (at the monthly view) Penant. It needs to break to the upside within the next couple of days; before the slow volume and lack of volatility sends it back down to test prior support at $7.50. The anticipated break to the upside could result in a 48% gain back to the top of the trading channel. With some consolidation a decisive break of this channel could easily send it up to the $44 to $50 range for the beginning of a new channel; estimated to be $44 to $66. Not advice; just an Idea I am acting on. This fractal pattern 9 weeks up, then 9 weeks consolidation can be found within a lot of crypto's; as they are the only truly free market and exhibit the purest human emotional trading patterning....for now.

19. Aug. 2017

Anmerkung

Bouncing along support with low volume potential break down; Since it is a thin market, tend to draw my support lines with a crayon and not a fine point mechanical pencil. If I was overly concerned, I would begin titrating out of the position 1/3 at a time.

23. Aug. 2017

Anmerkung

And the rush of money into the Crypto Space has taken out the first resistance level for ETC; next stop 17,19,22, then 50 and 66 . Over night the Crypto market Cap jumped $10 million USD. Thank you new money!!!