Last couple of days we told about we told about crypto assets which have to dump significantly before reaching the actual bottom. Today we have Ethereum Classic which in my opinion has only 20% potential dump before the new bull run.
ETCUSDT showed the wonderful corrective wave C which caused the FOMO and hit $45, but after that the ending wave 5 became the huge disappointment for hurried traders. This wave has the clear internal structure. Minimal Awesome Oscillator value helps us to find the bottom of the wave 3. The entire cycle can be drawn using the wave 3 point. I suppose now ETC is in wave 5 inside wave 5. It has the natural target $12 where I am going to buy this cryptocurrency.
Even if Ethereum Classic is a scam the buyer reaction is anticipated from this level because it's the huge liquidity are. The guaranteed target is the 0.61 Fibonacci at $30, therefore we can make an easy 2x. I am going to execute this trade.
Best regards, Ivan