Bitcoin Cash (BCH) Target Increased to $3,233...HOW? WHY? It's all in this analysis!
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SUMMARY
Bitcoin Cash (BCH) is playing the Hurry Up & Wait scenario beautifully! (Video has much more details). The below shows a very sexy Bullish Ascending Right Triangle with a minimum price target of $3,233. The video explains how to calculate this target and draw the lines. The bottom line is check out how Bitcoin Cash rused the earlier five waves that ended in a flame out and now is taking a tortous amount of time to correct. The e wave could perhaps not complete until next Wed or Thursday! BUT, who cares? IF this pattern becomes complete and confirmed....BULLISH! Is now a good time to ladder in? Yes, especially given the bullish wick indicator.
The BCH/BTC pair is a laggard. The abc correction could take this direction. So, one more lower low would be called for prior to an impulse.
BCH/BTC could take this direction and pattern but more unlikely than the first. Regardless, BCH/BTC will have to play out the Hurry and Wait scenario as well. Regardless, it doesn't matter which correction pathway BCH takes...the destination remains the same....UP!
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Legal Mumbo Jumbo: 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.**
i dont like b cash it want tokil bitcoin
MOON TIME BABY
Master Lee
Am I counting it right after the 1st Session with you :)
https://www.tradingview.com/x/ZcPc3PLr/
Well Done! A complex combination!
Can you overlay a larger pattern?
You mean like this?
https://www.tradingview.com/x/Imh5HS1B/
Thank you, Haejin. I'm thinking five days for c completion.
Thinking the same!
Thank you for the great analysis Haejin! Really appreciate the work you do! It looks like your analysis is purely graph based. I follow news and developments around BCH very closely. Funny thing is that based on my news and other observation research I came to a conclusion earlier today that things are going to start moving up pretty seriously around Wednesday or Thursday (possibly late Tuesday). I also thought that a lower low might happen before that. Great to see a technical analysis that confirms my research/observation-based theory ;).
Not really loving the chart method of investing, prefer fundamentals, but you make an interesting case.
If you're interested in more fundamental research, give us a read:
https://steemit.com/steemit/@harpooninvestor/coinbase-and-bitflyer-s-next-move
I agree with you @haejin it will burst even to .5 BTC but before it will test the 0.1 BTC / BTC Cash... because you have enormous whales feeding at these prices.... so it willl deep dive first to feed them... then at Xmass they will start the Bull to 0.5... but for the moment its too early... I buy BCH at 0.111 very soon. But you are totally right it will burst in the end.
Haejin, could you do an analysis of XRP/BTC? I would love to see your wave count on it. Thanks for everything always.
Glad I got in ;)
Thanks a lot! Allways really looking forward to BCH x)