SUMMARY

No matter how much Trace Mayer wants to trash Bitcoin Cash (BCH), overall sentiment will be in control and not one person's opinion. Attempts to manipulate can bend or stretch the Elliott Waves; but the overall sentiment always calls the shots. Based on Elliott Waves, pattern and MACD indicator; they disagree with Trace Mayer.

The below chart shows a phenomenal rise in five waves and just like any other crypto; even Bitcoin, the correction was steep and long in time. However the breakout seems quite decisive! The corrective complex wxyxz (blue) waves seem complete. What's next?

Given that the MACD has broken out, it's expected to well support the coming five wave rise as outlined in below chart (white). I would like to see two rounds of an impulse to solidly confirm a trend reversal and the first round seems only done with waves 1 and 2. The remaining 3,4,5 should provide short term higher highs.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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