$ETC/BTC Poloniex Technical Analysis Jan. 03, 2017. by ozchartart

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· @ozchartart ·
$21.18
$ETC/BTC Poloniex Technical Analysis Jan. 03, 2017.
Hello Steemers!

https://img1.steemit.com/0x0/http://puu.sh/qPHEc/3b0d8913ce.png
______________________________________

Doing an Ethereum Classic ($ETC) chart today. 
Currently ranked 6th on coinmarketcap.
Fore more info about Ethereum Classic check out their website and their Bitcointalk thread:
Website - https://ethereumclassic.github.io/
BCT thread - https://bitcointalk.org/index.php?topic=1559630.0
____________________________

Starting with the weekly charts as usual. Will be showing the daily and the weekly.
___________________________________

http://puu.sh/t9Wko/000f4f67a2.png
*weekly chart Poloniex  - clean -Jan. 03, 2017*

On the weekly we can see how ETC had a very volatile early trading, settling at around 0.004 BTC and entering a downtrend which seems to have bottomed at around 0.001 BTC.

http://puu.sh/t9Wgt/0c9a08ef55.png
*daily chart Poloniex  - clean - Jan. 03, 2017*

Once on the daily, it is visible how the price marked a all time low as low as 10k satoshi and a local high which I took as a "all time high" on 0.0064 BTC. Since hitting the 0.0064 point it entered a downtrend bottoming at 0.00095 BTC.
Since it hit the 0.00095 levels it started turning upwards, at the moment being traded at around 0.00145 BTC.
__________________________________

Pulling lines on the daily.
__________________________

http://puu.sh/t9Z23/70ee935183.png
*weekly chart Poloniex  - lines - Jan. 03, 2017*

http://puu.sh/t9Z42/2df50551e8.png
*daily chart Poloniex  - lines - Jan. 03, 2017*

With the lines on we can see a major accumulation zone between the local low of 0.00095 and the 0.00155 BTC level where the price is being contained.
Up next is the ~0.002 BTC line which seems to be marking yet another resistance level which the price seems to be entering in 
case it keeps it's uptrend.
___________________________________________

Pulled a fib from the all time low to the 0.0064 local high.
___________________________________________________

http://puu.sh/t9ZbE/cc25a00dbe.png
*weekly chart Poloniex  - fib - Jan. 03, 2017*

With the fib on we can see a major accumulation zone all the way up to about 0.0025 BTC.
Above it the 0.00335 level seem to play another important level before reaching into the higher price levels.

http://puu.sh/t9ZiS/827ff84f87.png
*daily chart Poloniex  - fib - Jan. 03, 2017*

On the daily we can see how the bottom accumulation level seems to be split in a couple levels, first one topping at around 0.00155 BTC, and the second one at arou 0.002 BTC.
The second fib zone looks like it's divided into 2 levels, first one from around 0.0025 to about 0.00285 BTC, and the 2nd, from 0.00285 to the top at around 0.00335 BTC. 
_________________

*What to expect?*
____________________

1st (green) - The price marked a new bottom and entered a strong uptrend wwith a possible target of  0.00391 BTC.
2nd (yellow) - The price enters an accumulation period between the newly made local low of ~0.00095 and the ~0.00154 BTC line before it enters the next level of the lowest fib zone
3rd (red) - The price drops lower seeking new local lows, with possible targets at around 0.000665 BTC and even as low as the all time low at around 10k satoshi.

http://puu.sh/ta0T9/cf33218e3d.png
________________________________

*COMMENT*
Once again, I will post the comment by commenting as it involves my personal opinion!
Thank you for understanding!

If anyone has any questions or need's help fell free to ask, I will try to explain as fast and as best as I can.
Critics, comments, reply's, counters, advice's, etc. are always welcome!
Have my charts helped you in any way?Let me know with a comment below :)
Are there more people who are doing TA?
Please post the links to your TA's posts into the comments as well!

*DISCLAIMER*
I am showing multiple scenarios on the price movement, in the post itself I do not take any stance, either bullish or bearish. I am not responsible for neither you’re winning nor you're losses upon trading! the "comment" section is my personal opinion and does not mean I have to or do hold any positions in the given market.
Everyone who uses TA develops his own unique charting style, please keep that in mind.

https://www.youtube.com/watch?v=hDP4in9MhP8

Kind Regards, OZ :)
πŸ‘  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 338 others
πŸ‘Ž  , , , , , , ,
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vote details (410)
@ozmaster ·
$0.05
*COMMENT*

Expecting the price to follow the uptrend it recently started and looking at a possible target at around 0.0039 BTC.
I also think there will be nice volume on ETC with plenty of opportunities for daytrading.

http://puu.sh/ta1iq/c6e780a9ab.png
πŸ‘  , ,
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@screenname ·
Re: $ETC/BTC Poloniex Technical Analysis Jan. 03, 2017.
<p>This post has been ranked within the top 25 most undervalued posts in the second half of Jan 03. We estimate that this post is undervalued by $16.74 as compared to a scenario in which every voter had an equal say.</p> 
<p>See the full rankings and details in <a href="https://steemit.com/curation/@screenname/the-daily-tribune-most-undervalued-posts-of-jan-03---part-ii">The Daily Tribune: Jan 03 - Part II</a>. You can also read about some of our methodology, data analysis and technical details in <a href="https://steemit.com/curation/@screenname/introducing-the-daily-tribune-most-undervalued-posts-of-nov-04---part-i">our initial post</a>.</p>
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