📉 $ETC 4H: Floor Breakdown Retest SHORT Setup
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📊 Market state: 4H downtrend. Price 7.00 (-2.0% 24H) is below EMA200 7.82, and EMA50 7.32 is sloping down. Lower highs at 7.26, 7.20 and 7.19.
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🧱 Levels: the 7.07 floor held three times since Oct 30 and broke today with 4H closes at 7.04, 7.03 and 7.00. Support at 6.78 (Oct 30 wick), 6.50 and 6.11.
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🎯 Plan (only after confirmation):
Activation: price retests 7.07-7.12, then a 4H candle closes back below 7.05. Enter on that close.
Stop loss: 7.23 (7.19 swing high plus 0.3x ATR).
Invalidation: a 4H close above 7.12 before activation voids the setup.
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✅ Targets:
TP1 6.78 (1.5R)
TP2 6.50 (3.1R)
TP3 6.11 (5.2R)
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⚠️ Risk: size so a stop-out costs 1% of capital. EMA20 7.14 is moving resistance just above the zone. Confidence: medium.
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Not financial advice. DYOR.
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$BTC #ETC #EthereumClassic #CryptoTrading #TechnicalAnalysis
⠀
📊 Market state: 4H downtrend. Price 7.00 (-2.0% 24H) is below EMA200 7.82, and EMA50 7.32 is sloping down. Lower highs at 7.26, 7.20 and 7.19.
⠀
🧱 Levels: the 7.07 floor held three times since Oct 30 and broke today with 4H closes at 7.04, 7.03 and 7.00. Support at 6.78 (Oct 30 wick), 6.50 and 6.11.
⠀
🎯 Plan (only after confirmation):
Activation: price retests 7.07-7.12, then a 4H candle closes back below 7.05. Enter on that close.
Stop loss: 7.23 (7.19 swing high plus 0.3x ATR).
Invalidation: a 4H close above 7.12 before activation voids the setup.
⠀
✅ Targets:
TP1 6.78 (1.5R)
TP2 6.50 (3.1R)
TP3 6.11 (5.2R)
⠀
⚠️ Risk: size so a stop-out costs 1% of capital. EMA20 7.14 is moving resistance just above the zone. Confidence: medium.
⠀
Not financial advice. DYOR.
⠀
$BTC #ETC #EthereumClassic #CryptoTrading #TechnicalAnalysis
