ETC headed into bear market

29 Tem 2016

On the 1H there was alot of volume on a candle the closed lower than open. However the candle also had a local high. This could be a coinsidence. But i think it marks the beginning of the bear market, where the channel i drew, could touch the bottom, and then break down.

29 Tem 2016

Not

Disclaimer, i am not shorting. This is purely for obsercational purposes.

29 Tem 2016

Not

Observational*. Have a nice day.

29 Tem 2016

Not

So price is moving down now. The channel is already relatively old, so i wouldnt be surprised to see it break down soon either.

31 Tem 2016

Not

In retrospect, when price is stopped at an awkward point in a channel, it means momentum is going to swing around. At least thats what happened here.