Conotoxia

BCHUSD - possible harmonic and irregular correction pattern

COINBASE:BCHUSD   Bitcoin Cash / U.S. Dollar
Looking at the BCHUSD chart we may firstly spot a potential XABCD harmonic pattern and secondly a potential “abc” irregular correction pattern. The first one and the second one could be potentially a trend continuation pattern. In this situation, we’re talking about an upward trend.

If the support at 204,26 USD is defended we may assume that the price could rise to the nearest resistance level at 338,49 USD. The next potential resistance is set near 497,53 USD.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

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Comments

I see on weekly your point b as new wave 1, c wave 2, now wave 3 on, towards $440-480$.
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