Ethereum Classic - When to get in on the next buy

13 мая 2021 г.

Hello everyone:

ETC has managed to push up quite a bit since the beginning of 2021.

We can clearly see a strong higher time frame bullish impulse move, pushing up the price to the upside.

Naturally, the markets needs to correct the bullish phrase by forming some kind of correction structure/pattern.

In this case we start to see a clean descending channel correction.
AS we know, correction can certainly go in indefinitely, so its best to have a plan and management to get in.

Few scenario I can expect the next move up would be,

Price continue to correct within the channel, as long as its corrective price action move down,
then we can see expect the price action to complete eventually.

This will lead to the confirmation breakout from this descending channel correction,
and I would look for some sort of lower time frame continuation correction to get in the on the buy to the previous highs of the correction,
and the all time high as the next target.

Patient is key to wait for correction to complete and confirmation breakout and continuation is key.

Thank you