ETC has been bouncing off the lower support of the triangle for neatly a year now. The assumption behind this trade is that the support will hold yet again and that ETC will break through the top resistance at some point in the future.
Entry at 18.9 because we have to get above the current trading range first. Waiting for this entry will increase the probability of the bottom being in and the trade to play out positively.
Target of 50 is a longer-term play, but with a very high risk-reward ratio.
A safer play would be to take partial profits around 23 or the top resistance of the triangle.