Possible Short Opportunity at $7.80 on ETCUSD

19 Des 2020

I have drawn a resistance line at the $7.50 price point and noticed 5 unsuccessful attempts to break past this point. I anticipate once price reach these levels again that the trend will continue. Base on the recent uptrend the price for ETCUSD should reach $7.50 around 12/31/20. I would wait for confirmation on that date that the upward trend has stalled and enter a short position and ride it back down to the $6.20 range for a quick $1.30 profit short term day trade.