Ethereum Classic / BTC 1D chart is showing a breakout in price, but with very low volume . Price is currently quite high, and as you can see on the ETC/USDT 1 hour chart, buying volume has been falling and falling.

In the last few hours, we have seen selling increasing a lot.

You can also see the red volume falling underneath and retesting the Blue trendline on the Volume Oscillator, indicating a potential downwards move. What this basically means is that the buyers volume was rejected at a certain point and the sellers are taking control.

We also see a bearish Head & Shoulders pattern form on the 1 hour UNDERNEATH the Blue moving average price trendline.

We could see a MASSIVE drop here – the chart is quite similar to WAVES – we are seeing distribution here at high levels after a low volume pump.

Resistance is at 46.4 on Kucoin.