chrstphaubry
Panjang

EMC correction end, time to fly away again

BITTREX:EMC2BTC   Einsteinium / Bitcoin
As can be seen, the different indicators are all pointing towards the end of the correction of EMC             .
We have a divergence on the Elliott Waves Oscillator mening we will have a trend reversal.
We have an oversold RSI .
We have the selling volume slowing down.
Price has found support not only on the 0.382 fib but also on the 200 MA (4H time frame).
And last but not least, we are in the golden buy area zone between .618 and .382 fib

Happy trading!

Komen: If you are trading EMC2 at the moment, don't panic just yet. With the current sell off of BTC it is to be expected that alts will also correct. The trade is still active and holding well. If you want a risk to reward profile, I have added this in the chart below. If price starts trading below the .236 then I would close this trade.
But as you will see we have an oversold RSI which would indicate that the price will recover.
Komen: If you trade you always have to be willing to be under water for a period as long as in the long run you reach your targets.
Komen: There is a good support on the .236 fib, trade still active as long as he can keep above that fib level.
Komen: For those who still have a trade active on EMC2, here is the pattern I believe the price will follow. Hope this helps!
Nice
Balas
hope you are right.. i came soooo close to selling.. many , many times..
Balas
chrstphaubry ChrisBryant
@ChrisBryant, hahaha yeah timing is always of essence! Always set targets and stop losses ;)
Balas
Nice analysis btw, great work!
Balas
@cwkim0100, Thanks man :)
Balas
Plausible, viable
Balas
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