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RE: Im going to be away for the weekend
Do you guys think this will rise to the base or the bounce already happened and I failed?
I didn't sell cause it never really touched upon the base, at least in my opinion.
I was in the same trade. It may be possible for it to hit that base at around 0.007 BTC, but I think it is likely it might not happen for a few days at least. I COULD BE WRONG!
I think the main reason that it didnt bounce right back to that base is because of how slowly the priced cracked below it. It took so long for it to drop that when you see the bounce start at around 0.0065, it stopped short of the base by about 1%. so you could so that the bigger more recent bounce was kind of a bounce back to th small base at 0.0065.
This is why I have found it useful to set an alert shorlty before my sell order at the base so that I can watch to make sure it will reach it, or if im not going to be around my computer I might just set my sell order slightly shorter than the base I am expecting it to bounce to, that way even if it falls a bit short I should hopefully still get my profit.
This is just my opinion and what ive been seeing in some of my trades lately.
I think you haven't looked for a 'panic drop' in price before buying. You need a faster decline to a lower price to be more sure of a bounce.
The drop is really not a panic but a steady decline. Also support doesn't seem strong. I can't prove this point, but it does seem ETH prices that occur with sharp decline or rise have a direct but opposite effect on ETC. I usually just trade ETH and don't touch ETC in this case.