The price of BCCUSDT had completed the impulsive wave at the level of $4,198 and now is developung a complex corrective wave 2. There is clearly missing wave C of this correctiion. If the level of 2059 will not hold, then the implsive cycle to the downside might bring another leg down to the level of $1,810 and below.
Trade closed manually:
A textbook example of a corrective wave C.
Upside now? First, the price must break out above the level of $1810.
The next target for the wave 5 of the wave (C) of big (B)is at $851.
Today’s drop is unclear to me. BTC is up, even if marginally. GDAX is to re-open BCH trading in 2 days. No bad news. Yet price dropped very sharply and very suddenly. Might be a du p before GDAX re-opening, otherwise it is unexplainable they way it happened - at least in my view.