BCHUSD
has broken out of the downtrend channel that it has been in since reaching all time highs in Dec-Jan. The price broke the downtrend channel between the Fibonacci numbers of 1.414 & 1.618.
We have seen a recent spike which has only retraced 23.6% which suggests we are going to have an extended wave.
The first target is at approx.
BCHUSD
$1269 (1 Week) The second target is at approx.
BCHUSD
$1889 (1 Month) I will update this analysis for corrections.
Feel free to ask questions.
-AB
코멘트:
My Analysis still stands....I believe we will still have an extended 3rd wave of the higher degree.
In my last post the 3rd Wave of the lower degree (Red #'s on chart) retraced only 23.6% but has now retraced up to 61.8%. and seems to be holding at the 50% retracement level. I believe we will hold this level and continue to move higher to the top of Fibonacci Channel towards the 1.618 level.
Worst case scenario is we have a failed wave and retrace the lower degree 3rd wave to the 1.618 retracement level (see chart $665 level)
My Analysis still stands....I believe we will still have an extended 3rd wave of the higher degree.
In my last post the 3rd Wave of the lower degree (Red #'s on chart) retraced only 23.6% but has now retraced up to 61.8%. and seems to be holding at the 50% retracement level. I believe we will hold this level and continue to move higher to the top of Fibonacci Channel towards the 1.618 level.
Worst case scenario is we have a failed wave and retrace the lower degree 3rd wave to the 1.618 retracement level (see chart $665 level)
코멘트:
We have had a failed 5th Wave of the Lower Degree which has led to another ABC Correction. The higher degree 3rd Wave is still OK if it holds above the $665 level. We are currently at $695 trying to hold the 78.6 Retracement Level. The chart is also forming a bullish inverse head and shoulders pattern.
We have had a failed 5th Wave of the Lower Degree which has led to another ABC Correction. The higher degree 3rd Wave is still OK if it holds above the $665 level. We are currently at $695 trying to hold the 78.6 Retracement Level. The chart is also forming a bullish inverse head and shoulders pattern.
코멘트:
www.tradingview.com/x/vXHKAo65/
We have found the bottom of Wave 2 of the Higher Degree at the $695-$700 price range. I'm now looking for the 3rd Wave to travel to at least the 1.618 Fibonacci Extension level. If the 3rd Wave goes meaningfully past the 1.618 level (i.e. 2.00, 2.272, 1.78) it will have an extension towards the 3.00-4.00 levels.
We have found the bottom of Wave 2 of the Higher Degree at the $695-$700 price range. I'm now looking for the 3rd Wave to travel to at least the 1.618 Fibonacci Extension level. If the 3rd Wave goes meaningfully past the 1.618 level (i.e. 2.00, 2.272, 1.78) it will have an extension towards the 3.00-4.00 levels.
코멘트:
코멘트:
Reversal of Trend Formation: Head and Shoulders
Reversal of Trend Formation: Head and Shoulders
코멘트:
Wave 1 and 2 of the Lower Degree (Red #s)
Wave 1 and 2 of the Lower Degree (Red #s)
코멘트:
We had another failed wave of the lower degree...
Now, we need to hold the 1.618 Level which is labeled "Critical Support". If you break the 1.618 level we could see new lows. The probability of that happening is LOW. I would say it would be a 10% chance of breaking that support level.
My targets are still in place if we hold $665.
We had another failed wave of the lower degree...
Now, we need to hold the 1.618 Level which is labeled "Critical Support". If you break the 1.618 level we could see new lows. The probability of that happening is LOW. I would say it would be a 10% chance of breaking that support level.
My targets are still in place if we hold $665.
코멘트:
Still holding key level...
Still holding key level...
코멘트:
We have held the key level of $665. We have a reflex formation that is also forming an Inverse Head and Shoulders. I would put a Stop very close to the recent low. We should NOT go below that level of $665.
We have held the key level of $665. We have a reflex formation that is also forming an Inverse Head and Shoulders. I would put a Stop very close to the recent low. We should NOT go below that level of $665.
코멘트:
Inverse Head And Shoulders...
We should be getting a 3rd Wave soon!
Inverse Head And Shoulders...
We should be getting a 3rd Wave soon!
코멘트:
We should be going up in the next 3 hours...
We should be going up in the next 3 hours...
코멘트:
Latest Chart!
The $805-$815 Level looks interesting...
Latest Chart!
The $805-$815 Level looks interesting...
코멘트:
We have an extended 3rd Wave....
It is hard to tell what Fibonacci Extension level it extend too.
I am liking the 2.618 level.
We have an extended 3rd Wave....
It is hard to tell what Fibonacci Extension level it extend too.
I am liking the 2.618 level.
코멘트:
We hit 2.618 level almost exactly.
I believe this is a correction point.
The last correction was a FLAT correction with a 5-3-5 Wave Sequence.
This correction should be a ZIGZAG with a 3-3-5 Wave Sequence.
I'm looking for a retracement to the $780 Level.
These corrections are great opportunities to sell high and buy low...
We hit 2.618 level almost exactly.
I believe this is a correction point.
The last correction was a FLAT correction with a 5-3-5 Wave Sequence.
This correction should be a ZIGZAG with a 3-3-5 Wave Sequence.
I'm looking for a retracement to the $780 Level.
These corrections are great opportunities to sell high and buy low...
코멘트:
Update: BCH wants to go higher. I would put a stop under $792 just incase this is a head fake! The next level is $830 or 300%.
Update: BCH wants to go higher. I would put a stop under $792 just incase this is a head fake! The next level is $830 or 300%.
코멘트:
I was right that this is a correction.
We should see a retracement to the 38.2% level.
We are waiting for the C wave to complete.
I was right that this is a correction.
We should see a retracement to the 38.2% level.
We are waiting for the C wave to complete.
코멘트:
If you kept a STOP at $792, that was the right call.
BCH has completed a 5th Wave and is now in a 3 Wave correction.
If you kept a STOP at $792, that was the right call.
BCH has completed a 5th Wave and is now in a 3 Wave correction.
코멘트:
New Chart...
We are in the midst of the ABC correction.
The C wave is now finishing...
Remember, the lower degree 3rd Wave was extended so we will most likely have an extended higher degree 3rd Wave.
New Chart...
We are in the midst of the ABC correction.
The C wave is now finishing...
Remember, the lower degree 3rd Wave was extended so we will most likely have an extended higher degree 3rd Wave.
코멘트:
Correction is almost complete...
I have a STOP-LIMIT @ $800-$795 just incase we have a complex correction.
Correction is almost complete...
I have a STOP-LIMIT @ $800-$795 just incase we have a complex correction.
코멘트:
Here is the 5 Wave Sequence and 3 Corrective Waves...
Here is the 5 Wave Sequence and 3 Corrective Waves...
코멘트:
We had another ABC Correction.
My STOP hit and was able to accumulate more BCH! Let’s go higher!
We had a small 5 wave Sequence at the bottom so I do NOT expect to go lower but my new STOP is at $785.
We had another ABC Correction.
My STOP hit and was able to accumulate more BCH! Let’s go higher!
We had a small 5 wave Sequence at the bottom so I do NOT expect to go lower but my new STOP is at $785.
코멘트:
We are going to the 1.382 Level from the Fibonacci Extension from Waves AB.
The Price level is the Horizontal line at $733. I sold out at $785 with a STOP-BUY at $735. Best way is to play both the long and short side.
The chart shows 2 Fibonacci Spirals that cross around the $735-$715 Level. The Chart sequence should hit and run along that intersection of the Fibonacci Spirals.
We are going to the 1.382 Level from the Fibonacci Extension from Waves AB.
The Price level is the Horizontal line at $733. I sold out at $785 with a STOP-BUY at $735. Best way is to play both the long and short side.
The chart shows 2 Fibonacci Spirals that cross around the $735-$715 Level. The Chart sequence should hit and run along that intersection of the Fibonacci Spirals.
코멘트:
코멘트:
Target: $730
Target: $730
코멘트:
Target Hit
Target Hit
코멘트:
C Wave almost complete. Get Ready!
C Wave almost complete. Get Ready!
코멘트:
After Failed Waves...
Is it time?
I believe so...
Is it time?
I believe so...
코멘트:
Fibo Spiral Analysis
코멘트:
Today Target $606
Today Target $606
코멘트:
코멘트:
Elliot Time
Elliot Time
코멘트:
Fib Time
Fib Time
코멘트:
1HR Chart
Fibo Extensions of Wave 1 of the Lower Degree