Where You At Twitter Followers?! Ethereum Classic!! (ETC) =D

BITFINEX:ETCUSD   古典以太坊 / 美元
Hi friends! Congratulations to my runner up voters on Twitter, who voted ETC during this week's #CoinVote! Without further ado, I'd like to welcome you to this new analysis, fresh outta the box, on Ethereum Classic! Let's get it. Looking at the four hour chart, you can see that ETC has just broken the rising black support level . Currently, price is testing support from the high made on 1/28. You can see that the 50 EMA (in orange) has also been lost, and the volume is overwhelmingly red. Additionally, we can see that the MACD is expanding to the downside, indicating an increase in sell side momentum. The next downside target is the 38.2% retrace, around 31.80. Just below that, we have the 200 EMA (in purple) right around 30 bucks. With that said, there has been a significant decline since the recent high, so a pause may materialize. There aren't any real indications of that, at this point, other than the small bounce off of the support from the high on 1/28. However, if that support falls, the 382 will be up next. On the upside, the 50 EMA could cap any rally attempts. We could start to build a head and shoulders pattern here, with all of the recent action being the head and the left shoulder, but there isn't any evidence of that yet. For now, just know that a breakdown has occurred, below the black uptrend support, and the 50 EMA . A relief rally could ensue, but further downside is likely to follow. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. Au revoir.

Ps. I DO realize that we could be building a MASSIVE inverse head and shoulders pattern on this chart. Let's see some further development first. ;)

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-MPC loves you-

24hours volume is flying Mate, I think we will see ETC in the top 10 next week. A x5 should be the right increase for this coin before the aidrop.. before drastically falling into 50/60 usd range @MagicPoopCannon
I think that ETC can test ATH because of Callisto airdrop within next 10 days , so big bull run to $50+ would not surprise me. Really interested to see what happens this and next week. People are mostly focused on BTC but we are getting closer to 5th March and people are usually accumulating for airdrop week before it happens.Watching closely, this can be huge bull run if BTC is not dipping.
+7 回覆
@Azuris, all depends on the king Bitcoin we are tired of this shit bitcoin down alts down :(
+2 回覆
KingBennon Kotaiba_Watted
@Kotaiba_Watted, I'm not tired of it.
Bitcoin down buy SAN at 1.20 ten days later sell SAN $3
BOOM!! Easy $7500 in ten day on $5k
romana79 Azuris
@Azuris, Agree. BTC is in the focus. And then ETC and simlar are a bit out of the picture. Since everything follows BTC, ETCdoes also. One more important info is that besides ETC-Callisto, ZSL will have fork and all dates are very close. The thing that I am affraid of is that both (ETC and ZCL) will not have momentum as they should if BTC will go deeper.
Shinn Azuris
@Azuris, I'm pretty suspicous of this Callisto thing. With a 1:1 ratio, you will find that a total of about 100 million CLO will be given to investors. However, in the first year alone (600 CLO per block)*(4 blocks per minute)*(60 minutes per hour)*(24 hours in a day)*(365 days in a year) = 1.261 billion CLO will be added through mining, which is an inflation rate of 1261% in the first year. To reward stakers, they get about 20% of this. Therefore, to simply counter inflation alone a maximum of 20% of all CLO must be staked. Any more than that, and cold stakers will just see their money vaporize due to massive inflation. And if they want their money to actually grow, even less should be staked. So I'm guessing for staking to be worthwhile at least 85% of this Callisto should be dumped on the markets.

Furthermore, the whitepaper says that it will provide ETC with FREE auditing, and the auditors will be paid in CLO. We all know there's no such thing as "FREE", and it seems the money used to pay the auditors is simply going to come from CLO cold stakers who will see the value of their investment inflate away.

ETC may still rise due to "omg, free coinz!!" madness, but I'm honestly thinking ETC will be dumped hard around the time of the airdrop, and the value of 1 CLO is, in my opinion, not even 1 USD, which makes me seriously wonder why ETC would even go to ATH if the airdrop's added value is maybe max 1 USD. Maybe there's something I'm missing here, but atm I just don't see it.
I entered and sold my ETC at 41.60 by applying your methods. Thx MPC!
annnddd it is above the black uptrend again!
@skorpf, it matters where the candle closes.
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