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Sep 28, 2018 1:58 PM

BCH-Wave Analysis-Extending 5th-Update Long

Bitcoin Cash / United States DollarCoinbase

Description

BITFINEX:BCHUSD

Wave 3 had traveled to over 400% projection of wave 1. It is interesting also to note that wave i within wave 3 was an extended wave by itself (special case). We then saw an irregular correction as wave 4.

The irregular wave 4 came down to the 23.6% retracement level. You already know that when a third wave extends, the ensuing fourth wave has a tendency to come down only by 23.6% of wave 3.

I have tried to project the possible end point for wave 5. But it has gone above the 61.8% measure of the distance from 0 to 3. Clearly, wave 5 is also extending, the rare case of two extensions within a five wave sequence.

Extending 5th should begin soon. Look for a sub-wave sequence to complete.





Will update.

-AB



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Sub-wave

Note extending 5th

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Spiral Levels

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Smart Money on the move...

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Above: On Balance Volume + Volume Flow

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Here is the completed sub-wave.

Time to go higher...

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Sub-wave didn’t hold...

We should hold this level.

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Next up...

Extending 5th...

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Extending Wave 1?
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