Hello traders.
first of all I'll start with the daily time frame :
here is the daily chart :
ETC price breaked the weekly resistance which shown by red box ; its because of BTC pump actually , and also this break out happened in the weekend so as you can see in the volume histograms below the chart , there isn't any huge volume ,so the chance of retracement is higher than price goes straight to the upside.
in the 4h time frame you can clearly see price breaks out of the red resistance box and the falling wedge downward sloping line and retest it as support and in the 4H time frame we can see there is more volume compare to the last weeks actually so we can count this as a break out .
we can open long position around this levels above the resistance box and the blue line and set our stop loss below 42.5$ level.
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my idea
first of all I'll start with the daily time frame :
here is the daily chart :
in the 4h time frame you can clearly see price breaks out of the red resistance box and the falling wedge downward sloping line and retest it as support and in the 4H time frame we can see there is more volume compare to the last weeks actually so we can count this as a break out .
we can open long position around this levels above the resistance box and the blue line and set our stop loss below 42.5$ level.
I hope you enjoyed this analysis.
Do not forget to like and subscribe
share my ideas with your friends , thanks for watching my idea
