Is It A Good Time To Buy (ETC) Ethereum Classic? ( Trade School)
With Coinbase adding Ethereum Classic (ETC) I've been getting question about when or if to buy.
Let's take a look at the charts and find some answers.
The daily chart shows us that the price has penetrated the upper band. Also notice that Stochastic and RSI indicators are well oversold. The alert chartist would notice immediately that the move up was on light volume.
Let's look for more clues on the weekly chart...
The weekly chart tells us that the long term down trendline from the (MAY 2017) all time high is broken.
That's good news but it doesn't mean that we are starting a new uptrend. More than likely we are starting a extended sideways trend which should build into an uptrend.
Trader's View: For now look for a move down to the middle of the band. At that point based on market conditions we may add to our position.
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Personally, i am still holding on to my horse on any of the coins. Quite an articulate write up, keep it up
Thanks, I agree I'm holding my coin positions and accumulating more. This is a buying opportunity of a life time.
I agree with you that starts a horizontal movement of the price but there is little information to be able to affirm that all after the horizontal movement, wait a bit for a signal more strong. Best regards
Yes I will wait for a buy signal from the charts before adding to my position. Thanks