Bitcoin Cash, In Descending-Channel, These Levels Are Important!

Hello Traders Investors And Community,

Welcome to this analysis about Bitcoin Cash, we are looking at the 4-hour timeframe perspective, the recent events, the established formational structure, and what we can expect in the upcoming times. Since Bitcoin cash recent times has shown up with exaggerated bearishness to the downside it is in a trend which is not yet highly strongly bearishly to the downside and which formed several attempts to reverse however did not yet fully manage to reverse, nevertheless Bitcoin Cash has the ability to show up with a sufficient reversal when the right price-actions determine, in this case, I discovered all the important levels and likely destinies we should consider with the established structure and upcoming movements.

Structural Developments:
As when looking at my chart now we can watch there how Bitcoin Cash has formed this main descending-channel-formation within the structure marked with the boundaries in blue, within this channel LINKUSD has the coherent wave-count with the waves A to C already fully completed and now with the wave D running directly into the upper boundary of the channel that is still strong resistance and likely to show up with a bearish bounce to the downside, when this bounce emerges it will be the origin of the wave E to the downside and will continue bearishly till there is support found in which Bitcoin Cash can reverse and stabilize to form a potential reversal and breakout above the boundary of the channel.

Upcoming Determinations:
Taking all these factors into consideration Bitcoin Cash is in a situation in which it has developed this great structure that can indicate a potential reversal when Bitcoin Cash manages to show up with the right price-action this means that Bitcoin Cash needs to finalize the wave-count and approach the lower levels of support, in this case, Bitcoin Cash has the confirmational-bounce-cluster lying there marked in blue where several supports coming together, this level needs to hold and Bitcoin Cash needs to bounce within, otherwise when this does not happen and Bitcoin Cash increases with bearish pressure below it will invalidate the formation and show up with further bearish pressures, therefore, it is necessary to elevate the proper validations.

Thank you everybody for watching the analysis, great contentment for everybody supporting, have a good day and good trading, all the best!
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Information provided is only educational and should not be used to take action in the market.