- Apparently benefiting from current Ethereum uptrend,but not enough
- Cautious entry. I'd rather wait for another price.
After re-reading some text on indicators, I decided to plot a million lines all over the place just for fun and see what turns out. Anyone who has been using the website investing dot com for charting would have seen that you can have all your indicators there summarized in a decisive list by any time interval of your choosing. The long list makes me as confused as I feel when I"m looking at my chart right now, though is the worst offender for making charts look a little messy. Let's go through it:
- Firstly with Ichimoku:
- The blue conversion line is passing through the red base line upwards and is above the cloud. These two lines can be used similarly to the way some people two moving averages and keeping an eye on crossovers. So that's a buy.
- The cloud is green moving upwards to higher support levels. Also a buy.
- The lagging green line is trending down, and looks like it will soon cut through the price. Sell
- RSI: It's above 50, and since ETC is trending upwards already you get this zigzagging in the 60-80 range. Probably a buy signal. (?)
- Directional indicators:
- The blue index is starting to hump upward less upwards than the previous. I'd say this upward strength is starting to weaken. Sell
- DI+/DI-: The green DI+ is above the DI-. No indication yet but we'd be watching out for a cross over of the green downward. Uncertain.
- Just looking at the current waves as well, applying 5 wave patterns, it suggests it might be time for another reprice. Sell
- Trend lines: There's an upward channeling aprpraching a longer term downward resistance line. It will have to break through here and confirm upward trend, but I'm taking this as a sell signal. ETC isn't showing the same amount of livelihood as Ethereum .
Regardless of which indicators I'm gonna focus on, I would like ETC to re-price down before buying. Ethereum has broken it's previous all time high and is on it's way to finding support, but ETC has not done that yet and is struggling to reach it. Mind you, ETC is much more affordable than ETH.