ETC headed into bear market

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On the 1H there was alot of volume on a candle the closed lower than open. However the candle also had a local high. This could be a coinsidence. But i think it marks the beginning of the bear market, where the channel i drew, could touch the bottom, and then break down.

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Disclaimer, i am not shorting. This is purely for obsercational purposes.

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Observational*. Have a nice day.

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So price is moving down now. The channel is already relatively old, so i wouldnt be surprised to see it break down soon either.

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In retrospect, when price is stopped at an awkward point in a channel, it means momentum is going to swing around. At least thats what happened here.