This classic trading pattern signaled that Bitcoin price had hit a top
In technical analysis, traders interpret the head and shoulders formation as a strong sign that a trend reversal is in process. Traders tend to focus too much on timing the right entry to a trade, but very few focus on developing a strategy for exiting positions. If one sells too early, sizable gains are left on the table and if the position is held for too long, the markets quickly snatch back the profits. Therefore, it is necessary to identify and close a trade as soon as the trend starts to reverse.One classical setup that is considered reliable in spotting a trend reversal is the....
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Ethereum Classic recent surge was impressive against Bitcoin, and it looks like there are more upsides left in the short term. Key Highlights. Ethereum Classic (ETC) moved higher further against Bitcoin and traded as high as 0.0030BTC. There is currently a contracting triangle pattern formed on the 30-min charts of ETC/BTC, which may break soon for the next move. The chances of an upside break are more considering the current market sentiment. Ethereum Classic Trend. Ethereum Classic price ETC enjoyed a decent upside ride against Bitcoin recently, as the bulls managed to clear a couple of....
Ethereum classic price continued its uptrend and gained by more than 20%. However, I feel it may be topping soon for a short-term correction. Key Highlights Ethereum classic price surged higher against Bitcoin and traded close to the 0.0048BTC level. There is likely a double top pattern forming around the mentioned level, so the bulls need to be very careful. There is a bullish trend line formed on the hourly chart of ETC/BTC, which may act as a support if the price corrects lower. Ethereum Classic Price Resistance Ethereum classic price ETC surged further during the past 24 hours against....
Ethereum classic price failed to continue trading higher against the Bitcoin, and may again trade lower in the short term. Key Highlights. Ethereum classic price looks like struggling to retain the bullish bias, and may decline soon versus the Bitcoin. There is a contracting triangle pattern formed on the hourly chart of ETC/BTC (data feed via Simplefx), which may be cleared for a downside move. The price may once again trade towards an important support area of 0.00150BTC. Ethereum Classic Price Decline. Ethereum Classic price managed to pop higher yesterday against the Bitcoin to trade....
Ethereum classic price fell during the past few hours and it looks like under a lot of bearish pressure versus Bitcoin at the moment. Key Highlights. Ethereum classic price finally broke down against Bitcoin and tested the 0.00218BTC support. There was a close below yesterday’s stated support area of 0.00225BTC in ETC/BTC. The same broken support area may now act as a resistance if the price moves higher from the current levels. Ethereum Classic Price Resistance. Ethereum classic price as seen trading in a range against Bitcoin before the price started moving down. Yesterday’s highlighted....
Ethereum classic price traded down further versus Bitcoin. ETC broke a major support area and now may decline further. Key Highlights. Ethereum classic price struggle to recover continued against the Bitcoin, and as it traded down further. There was an expanding triangle pattern formed on the hourly chart of ETC/BTC (data feed via Simplefx), which was broken during the recent downside break. The price is now well below the 0.00200BTC support, which may now act as a resistance. Ethereum Classic Price Support Break. Ethereum classic price was seen consolidating above the 0.00198BTC support....