ETC pattern is getting Really Tight. Big move coming
After a great bounce off the 50% retrace to 28.66$ we have rallied back to 35$ area
We have been met with resistance here however we have now been consolidating creating a symmetrical triangle here with a breakout resistance of 34.40 and a FIB resistance of 34.70 and the pattern support lies around 33-33.30 area
If ETC can breakout upside we can see a push back towards 37$ while a break down target could bring us to retest the 31-30.50$ area
I am waiting for my next move but a push above 35$ with conviction could be a great long trade to continue back towards previous rejection area of 40$ while a breakdown could be setting up for a larger W pattern with a higher low
We have been met with resistance here however we have now been consolidating creating a symmetrical triangle here with a breakout resistance of 34.40 and a FIB resistance of 34.70 and the pattern support lies around 33-33.30 area
If ETC can breakout upside we can see a push back towards 37$ while a break down target could bring us to retest the 31-30.50$ area
I am waiting for my next move but a push above 35$ with conviction could be a great long trade to continue back towards previous rejection area of 40$ while a breakdown could be setting up for a larger W pattern with a higher low
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