SUMMARY
Bitcoin Cash (BCH) placed an impulse (white waves) that peaked with a wave v. Elliott Waves states that after a completion of five waves, there is an a,b,c requisite correction. Those corrective waves are currently in progress. Waves a,b seem complete as shown below and that leaves wave c that could be nearly complete. The blue subwaves delineate the pathway to a potential botto of correction.
A closer look of the correction shows a very sideways action of the price. This is quite normal as it fits well into the Hurry UP & Wait scenario. The triple combo, wxyxz compse the subwaves of the red b wave and the subsequent C subwaves are outlined in below chart.
Legal Disclaimer: 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.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
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Tutorial on the use of Fibonacci & Elliott Waves
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