I believe we are just completing the first A wave of this deep correction. Once we see the B then C wave complete (probably once all the fud coming out of China is done) we should see the huge impulsive move back towards ATH.
I think the long-term trend is currently down until this correction is over, however, there are opportunities to take some short-term long...
We are now looking for two scenarios on Bcash right now.
1: We still have another short-term wave up and down to complete this larger correction.
2: We have now completed this 3 wave correction and we now wait for the next impulsive wave up.
A lot of the major alts are showing similar patterns including BTC which I will also post up.
Safe trading dudes and...
BCHUSD has been in this large correction for nearly a month now, we saw a breakout of the corrective pattern and I was starting to look bullish, however, price pulled back into the corrective zone leaving a little uncertainty.
The impulsive way price moved out of the corrective zone is a good sign that we may see more upside to eventually break the All Time...
BTC is now in a confirmed correction, it now depend's what kind of corrective pattern we will see.
I still feel we have more downside, but we may have a short term bull trend to complete the expanding flat before moving down to correct with an A B C move.
Good luck traders.