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Bitcoin cash Elliott Wave analysis: Minimum three -wave drop

Bitcoin cash Elliott Wave analysis: Minimum three -wave drop
Gregor HorvatGregor HorvatWavetraders

Crypto market is coming nicely higher on the intraday basis as expected, but ideally for wave (c) of a corrective rally in wave »b«/«ii«, so be aware of a reversal down for wave »c« or »iii« soon, ideally around 0.618 - 0.786 Fibonacci retracement.

Bitcoin Cash, BCHUSD sharply declined in the 4-hour chart after completed 5th wave and strong resistance zone, so here as well we will probably see a minimum three-wave drop at least back to 520 area for wave "c" or maybe even back down to 385 level for wave "iii".

Bitcoin cash 4h Elliott Wave analysis chart

Bitcoin

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Author

Gregor Horvat

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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