Seems like ECT finally got out from the deep. Any resistance left so is free like a rocket. Maybe someone can suggest in the comments where ETC it will stop cause I don´t see it. Can be a small retrace but is a strong bullish trend that will continue performing better then many. Definitely to trade.
I cant really tell which part of the wave cycle it is currently in, but using a Fib extension from the last impulse to now, it looks to be heading for $100.
DeFontain
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@kodyshepherdpersonal, Good job there, timeframe also much better in your analysis really good job . This is not an Elliot wave.
I'm not sure why you say this isn't an Elliot wave. You can see impulse waves at every frequency on the charts. You would be very hard pressed to find a chart of any coin or stock that docent have Elliot waves on them. Elliot waves are the result of the underlying human psychology that drives markets, and are very easily spotted on high volume trades like popular stocks and crypto. It makes day trading coins SUPER easy. Here is a chart showing the inner and otter waves of the recent ETC movement from the 1m all the way to the day.
Maybe I just use weird terminology or something so.
kodyshepherdpersonal
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@kodyshepherdpersonal, Then in the short term I think we may see some kind of a correction before moving upwards again.
DeFontain
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@kodyshepherdpersonal, In your terms we are in the 4th wave. Most of the Crypto will correct before the final pump in my opinion but ETC is always been different. If you good enough to read bull-bear flags you should be safe though.
dingram77
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What would be a good stop loss? It's in territory that I'm not able to determine still a bit of a newbie still. Got in at $5 and some at $10 super stoked about this coin but would like to grab more if I can time the stop loss right... Thanks
DeFontain
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@dingram77, The SL is personal like the target, is unique. Anyway in math contest is also dependent on quantity of bought shares. You can sell some and let the rest with a certain longer SL (over 20% or you can hold and be tight in SL (doesn´t work usually).
Hope I answer your question.