The 5 waves (Green) appear to be done, also marked the sub waves in 3rd and 5th waves. A decent correction would be to the 4th wave bottom which is 50% retracement. However, if this is super bullish, we may turn around at 0.382 Fib (A) Price going above red zone would mean that 5 waves are not yet done Take Care. Stay Safe
The 5 Waves appear to be done and we should have a ABC correction now. An ideal turn around would be at the 0.5 - 0.618 Fib level, but it may turn around earlier if the bulls are still active Going above red zone would mean that 5 waves are not done Also we reached 50 Day EMA (orange), which will act as resistance, crossing this will give us a target at $350+...
Noticed that after 2011, we never had more than 4 red candles on the monthly chart, so it is probable we will see an at least a small uptrend in December What do you think?
We had the largest volume spike in 2018 after the fork which crashed the price and took the RSI to lowest level ever which means Bitcoin Cash is very OVERSOLD. So it is possible BCH had its capitulation event before other major cryptos Capitulation means a single major sell-off event in bear market which signals that most people have sold off and thereby marking...
As usual BCH keeps going to extremes just when everyone thought it was dead. This rally is not really shocking because it got dumped extremely hard. I can't find that 5 waves are done even after this 60%+ jump, so there appears to be 5th wave pending to be played. Either-ways it needs to cool off and I expect the 4th wave will correct to 0.5 to 0.618 Fib which...
This EW count shows that we need to see one more last (v) sub-wave of the last 5th wave down (green). The (iv) sub-wave appears to be done as it is facing resistance from the 100 EMA on 4 Hour chart. Technically, it can go further up but not beyond the red-zone as the 4th wave can't go beyond 1st wave bottom. However (ii) wave went deeper to almost 0.618 Fib so...
Been tracking this via my tweets with charts and is playing out as expected (mostly), with last night's drop we need to get a small hike to $3750, it could go higher but not beyond $4000 (wave 4 can't cross wave 1 bottom) Stop loss = $3370 This chart is part of the below All the best! Stay Safe
BCH has been in a major downward channel since 2018 and whenever it hits the channel (Blue and green channels both) tops or bottoms, there is a sell off or good support for a buy. Before the fork, the price went above the green channel for the first time (decisively) since April and the price zoomed to the blue channel top at $650 and got hit by major...
An Elliott Wave correction combination is WXYXZ and each of these waves is divided into a ABC sub-waves which can be further divided into sub-waves of 3 or 5. This chart is biased towards an end of the bear market and maybe with one final capitulation wave down or a slow bleed The green zone should act as a support just like in Sep 2017 when China banned...
Our 1-5 impulse waves appear to be done and we are now facing resistance at 200 EMA (pink). Also this top is 2.618 Fib extension of wave (i). 5 impulse waves are usually followed by an ABC correction. Note how 4th wave got support from 100 EMA (purple)
Chart has the details about the similarities with last bear run and RSI. However, volume is not high
This will be the best trade if it plays out, buy 1 or 2 BCH, you have almost nothing to lose and everything to gain. I will not assume a timeline, it will take a while - months or years for our target. This is similar to last year when I first bought BCH at $300+, everyone thought BCH was irrelevant then as well, BUT at that time I had no clue how high BCH can...
It is a mistake to underestimate #BCH, most people did in last November convinced on the FUD that it will soon be a dead coin. I didn't. The chance to buy Bitcoin (BCH) below $400 had excellent Risk:Reward ratio Now you have a chance to own Bitcoin (BCH) at $500+ We are back in the same place, I've been tweeting since September that BCH is on a sale after a 85%...
Note that we will have major resistance at $557 because of 100 Day EMA and will also be the 1.618 fib extension of the 1st wave here. Stop Loss is a must here
More details in previous linked charts
This is one of theories I have, see other charts as well
We are done with the 5 Elliott Waves up and ABC correction follows them. We now appear to be in the "c" wave after "b" has been rejected again at 0.382 Fib level again (Red box). Bulls had this support initially but once the Bears overran their position, they are using it create resistance . Bulls tried to take back this position, but 2 of their attempts failed....
Chart has details