ETC has dropped 37% since my last post on the 10th March. The direction of the drop has also been closely in-line with my prediction. I also told you to set a SL just below $20.
However, one thing that I have to change since my last post is that the seems like will not pan out as by looking at the status quo of BTC , BTC should have a reversal around the $6950 level, and which ETC will follow suit. This means that the will be invalid.
So, what will happen next? ETC should drop to the range of $14.06 - $14.62, around the 19th of March, and have a reversal back to around $18 in the short term.
As expected, ETC hit right within my target, and has bounced off nicely. Not only has ETC hit my target range, but also BTC ($7245 - $6950), LTC ($138.6 - $142.3), ETH ($454.9 - $396.7) & NEO ($57.4 - $53.5).
I have placed quite a few orders on ETC between my target range $14.063 - $14.625. Although some of the orders didn't go through as it did not hit my ideal target @ $14.063, I still have already made 10.5%+ with the other orders so far..
I think the dip is over for now until the end of March. I will keep you updated if anything goes unexpected. I will also post a new post on BTC, LTC, ETC, XRP and probably ETH when I have more confirmation that the dip is over.
You can sell some of your positions now and buy it back around $17.33
Crypto exchange that I use - no overload, perpetual contract
While most traders on TV are waiting for the break out of the bull flag, my positions are already 27%+. All the coins that I invested, BTC, LTC, XRP, ETH, ETC, NEO....all hit within my fibonacci target range, not only short-term, but mid-term. If it's just short term, then I might wait for confirmation. But both mid-term and short-term are all indicating the same price target. So, I don't see the reason for waiting for a confirmation. Even if the price drops back, you can always set the SL at a price higher than your purchase price. Buying on breakout is a less risky option, but in saying that, it could be as well a false breakout.
I saw the setup, I saw the opportunity, and I grabbed the opportunity.
I will post an update if everything goes according to my setup within the next 12-24 hours. The current price action has formed a new setup as far as I can see.