Looking at BCHUSD over the past period, I believe we are presently either in the start of wave 3, or at least in an area that isn't going to much lower for the time being. Looking at the chart, we've had an impulse wave up (wave 1 in dark blue), followed by a deep ABC-correction (wave 2 in dark blue), retracing to 91,8% of wave 1. Even if the present correction were to go lower, it should not go below the previous low of $870, so this seems to be a good time to build a long position. Stop-loss at $895 (if you're feeling confident) or $870 (if you like being careful with your cash, like a prudent investor). The wave-count is invalidated if it were to go lower than $870.
Extending wave 1 between 100% and 161,8% gives us a target area of $1.238 - $1.411 for the end of wave 3.
The usual disclaimer: You are the one trading and making the decisions. I take no responsibility whatsoever for your actions and their results based on this analysis. This should go without saying, but I'll say it anyway.
Happy trading!
Extending wave 1 between 100% and 161,8% gives us a target area of $1.238 - $1.411 for the end of wave 3.
The usual disclaimer: You are the one trading and making the decisions. I take no responsibility whatsoever for your actions and their results based on this analysis. This should go without saying, but I'll say it anyway.
Happy trading!
