We have 3 options before we go higher....
BEST case scenario is obviously our green smiley face on the .5 FIB
The not so bad zone is our yellow neutral face in the 'GOLDEN ZONE'
And then the still acceptable zone is our red face, and the reason it is red, is because out HODLers probably wished they sold at $1,845 this zone is probably the preferred zone for anyone that may have missed out on BCH last time.
So all very viable zones and all have plenty of support, BUT, BTC is still in control here and unfortunately when BTC moves down it takes most coins/tokens with it.
We have seen in recent weeks BCH gain strength against BTC and moving higher in it's own pattern without the help of BTC we have also seen the BCHBTC percentage increase, which is also another sign of strength... so now we wait for the bounce and see where we go next!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION (minimise your risk, use a stop loss.) ALWAYS!!!!!!!!!!!!!!!!!!!
(this applies mainly for traders in margin)
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like.... :) <3
Is it possible that we are on 3rd subwave of the larger 3rd wave? I could only count 1-2-3, could we be going into a second large triangle that would take BCH to 1200+ ? I adjusted my third wave height to 1230ish because it should be 1.618 of the 1st wave. Always learning. Thanks for taking the time to share with us your ideas as well. And yea...the move was buns. Luckily, I moved to warmer weather and less traffic. ;)