Another Short Term Outlook for ETC

Overall daily RSI and chart look very bearish. 4hr RSI looks like a good buy opportunity coming up. Here are two possible scenarios:
Blue scenario, wave 4 bounces off of the golden pocket at 11.95-11.79 up to wave 5 at a target price of ~13.91 where ETC has been hitting lower highs at the .214-.236 pocket.
Red scenario, daily ETC downtrend continues down to potentially 9.80, before making a short term bounce back up.

Not investment/financial advice, just for observational/educational purposes.

Kommentera:

RSI on 4hr and daily chart nearing oversold.

Kommentera:

~9.80 Target hit at 9.84 before a quick 73 cent bounce on Bitfinex. However, there may be more in store for the bears on daily chart. There is very little in the way of falling to $7.11 and below.