Its no secret that BCH follow BTC price movement. This week Bitcoin Cash had a violent move up, while BTC and other Alts stopped after last weeks HUGE bull move, Bitcoin Cash continued into early this week.
I remember pulling up a chart and and all the coins being within a percent of previous day, and BCH was up 18-20% out of nowhere. Surely I counted the Elliot Waves and it completed the 5 waves up for what looks like the final leg of ABC move up.
I expect 5 waves down next to match the A of the C. I think judging by the time frame, a weeks time for this correction would be a reasonable guess. BTC is currently completing the wave 2 of larger wave (3) down to likely the .618 fib level. This can happen in the next few days to a week, which matches the BCH very well. And both can start moving up for wave 3 of (3) of the bull-market. VERY VERY VERY Bearish on BCH for upcoming days until BTC reaches $8500-$8600 minimum. After that I will be Bullish on both. It will be... Biblical.
Not a financial advice, just my analysis. Good Luck!
I remember pulling up a chart and and all the coins being within a percent of previous day, and BCH was up 18-20% out of nowhere. Surely I counted the Elliot Waves and it completed the 5 waves up for what looks like the final leg of ABC move up.
I expect 5 waves down next to match the A of the C. I think judging by the time frame, a weeks time for this correction would be a reasonable guess. BTC is currently completing the wave 2 of larger wave (3) down to likely the .618 fib level. This can happen in the next few days to a week, which matches the BCH very well. And both can start moving up for wave 3 of (3) of the bull-market. VERY VERY VERY Bearish on BCH for upcoming days until BTC reaches $8500-$8600 minimum. After that I will be Bullish on both. It will be... Biblical.
Not a financial advice, just my analysis. Good Luck!